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Published on
13/06/2025 – 7:57 GMT+2

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European indexes prepared to take a hit on Friday as Asian markets dropped on news that Israel had attacked Iran’s capital. The strikes came amid the ramping up of tensions over Tehran’s rapidly advancing nuclear program.

Oil prices, on the other hand, soared — linked to concerns that the conflict could restrict supply.

US benchmark crude oil rose 8.8%, to just under $74 per barrel. Brent crude, the international standard, increased by 8.28% to $75.10 per barrel.

In share trading, Tokyo’s Nikkei 225 fell 1.2% to 37,719.82 while the Kospi in Seoul edged 1.4% lower to 2,879.08.

Hong Kong’s Hang Seng retreated 0.9% to 23,831.85 and the Shanghai Composite Index lost 0.8% to 3,375.16.

Australia’s S&P/ASX 200 drifted 0.3% lower to 8,535.90.

An Israeli attack on Iran is in “our top ten of global risks”, but “Asian markets are expected to recover quickly as they have relatively limited exposure to the conflict and growing ties to unaffected Saudi Arabia and the UAE”, said Xu Tiachen of The Economist Intelligence.

Following the strikes on Iran, S&P 500 futures dropped 1.5%, Nasdaq 100 futures fell 1.7% and Dow Jones Industrial Average futures fell 1.4% by around 1.30am ET.

On Thursday, US stock indexes had ticked higher following another encouraging update on inflation across the country.

The S&P 500 rose 0.4% to 6,045.26. The Dow Jones Industrial Average added 0.2% to 42,967.62, and the Nasdaq Composite gained 0.2% to 19,662.48.

Oracle pushed upward on the market after jumping 13.3%. The tech giant delivered stronger profit and revenue for the latest quarter than analysts expected, and CEO Safra Catz said it expects revenue growth “will be dramatically higher” in its upcoming fiscal year.

That helped offset a 4.8% loss for Boeing after Air India said a London-bound flight crashed shortly after taking off from Ahmedabad airport on Thursday with 242 passengers and crew onboard. The Boeing 787 Dreamliner crashed into a residential area near the airport five minutes after taking off.

Stocks broadly got some help from easing Treasury yields in the bond market following the latest update on inflation. Thursday’s update said inflation at the wholesale level wasn’t as bad last month as economists expected.

Wall Street took it as a signal that the Federal Reserve will have more leeway to cut interest rates later this year in order to give the economy a boost.

The Fed’s next meeting on interest rates is scheduled for next week, but the nearly unanimous expectation on Wall Street is that officials won’t cut.

In currency trading early Friday, the US dollar rose slightly to 143,67 Japanese yen. The euro fell about 0.5% against the US dollar, to $1.1528.

Staying cool just got a little more expensive this summer. The price of coconut oil, a key ingredient in ice cream, has soared in 2025. Looking ahead, further price gains are likely as demand continues to outpace supply.

At the end of May, the wholesale price for Philippine coconut oil delivered in Rotterdam, an industry benchmark, reached $2,800 a tonne, roughly twice as much as the year before.

Adverse weather in Indonesia and the Philippines, which together account for three-quarters of global coconut oil supplies, has negatively affected production. Ice cream prices, in turn, have risen.

According to an analysis by RIFT, a British business consultancy, United Kingdom supermarket ice lollies and cones shot up by 7.6 percent in May.

Due to its high melting point, coconut oil keeps industrially made ice cream solid for longer at room temperature. Crucially for food companies, it does so without affecting ice cream’s flavour and texture.

The global ice cream industry, worth $81bn in 2024, is now paying close attention to the market dynamics affecting coconut prices.

What role has the weather played?

Coconuts are found in the tropics, where they benefit from lots of rain and sunshine. But the El Nino weather pattern, which produces warmer-than-average sea surface temperatures across the Pacific, led to drier weather across Southeast Asia, particularly from June last year to October.

During that period, coconut farms suffered from extreme heat and droughts. Because coconuts take a year to grow, last year’s weather pattern has meant that palm trees have yielded less fruit than normal in 2025, reducing supply.

The United States Department of Agriculture expects that unfavourable weather conditions will see global coconut oil production fall to 3.6 million tonnes in 2024-2025, down 5 to 10 percent from the previous season.

Output is also likely to stay low in the 2025-2026 season, according to analysts.

Are biofuels to blame too?

In October, the Philippine government mandated blending larger amounts of coco methyl ester, a fatty derivative of coconut oil, with diesel to produce biodiesel.

Until recently, the impact of the coconut-for-diesel policy was limited. A blending target of 1 percent was introduced in 2007 and then 2 percent from 2009. But that changed last year, when Manila hiked the target to 3 percent.

The government announced a further jump to 4 percent by late 2025 and 5 percent by the end of 2026. A 1-percentage-point increase requires an extra 900 million coconuts for the biofuels market, raising demand and prices.

Last year, Philippine Energy Secretary Raphael Lotilla said: “Implementing the higher biofuels blend is a win-win solution as we promote economic growth, uphold environmental stewardship and strive for cleaner energy utilisation.”

If the Philippine government carries out its plan, it will use 4.5 billion coconuts to generate the 500 million litres of coco methyl ester necessary to meet the biodiesel target by 2026. That would amount to nearly one-third of the country’s annual crop of 15 billion coconuts.

For context, the US diverts about 40 percent of its annual corn crop into its bioethanol, a fuel made primarily from fermented cornstarch designed to lower greenhouse gas emissions.

Are chocolates eating into coconut too?

In an effort to maintain profit margins and contain costs, increasing numbers of chocolate makers have started reformulating products with cocoa substitutes. One of those is coconut oil.

In December, the US ICE cocoa futures contract surged to a record $12,931 per tonne, up a staggering 177 percent from the same period the year before. Since then, prices have come down but continue to remain elevated.

The high price of cocoa – currently trending about $10,000 per tonne – continues to be supported by crop shortages and resilient consumer demand for cocoa-based products, especially chocolate.

Coconut oil is an established alternative for cocoa butter, particularly in vegan or dairy-free chocolate recipes. And even at its elevated price, coconut oil is still cheaper than cocoa.

“I expect many confectionery and chocolate makers to substitute cocoa for coconut oil in the near term,” Felipe Pohlmann Gonzaga, a Switzerland-based commodity trader, told Al Jazeera.

Platforms like TikTok and Instagram have become another source of demand. In recent years, coconuts have been extolled by celebrities like Gwyneth Paltrow and Kourtney Kardashian for their nutritional benefits.

Wellness Mama, a popular healthcare website, lists 101 uses for coconuts, including as a treatment for insomnia, heartburn, cuts, acne, haemorrhoids, mosquito bites and sunburn.

In the makeup and beauty market, coconut oil is seen as a natural and environmentally friendly alternative to palm oil. Here too, industrial consumption is rising.

While the health benefits of coconut oil continue to be questioned, this niche source of demand is rising. And although they wouldn’t have a big impact on their own, health-conscious buyers are entering an already tight market, lifting prices.

Can coconut production rise to meet the demand?

Despite coconut oil’s growing popularity, expanding production is a difficult task.

“Unlike with other crops, coconut farmers can’t simply add acres in response to higher prices,” Pohlmann Gonzaga says.

“It takes at least a year for the trees to reach maturity and production. Deforestation concerns and environmental laws also make expansion difficult,” he added.

Like palm fruit, coconuts grow on trees in tropical areas where forests would have to be removed to plant more trees.

“The European Union deforestation regulation, for instance, inhibits the destruction of biodiverse forests in order to import monoculture crops,” Pohlmann Gonzaga said.

He also pointed out that “we’re moving from El Nino to La Nina, which tends to bring more flooding in Southeast Asia. So planting, harvests and logistics will be impacted.”

With demand for coconuts likely to remain firm and supplies constrained, he added that he does not expect the prices to come down anytime soon.

“We can expect ice cream prices to be high this summer and stay high next year,” he said.

“For ice cream lovers out there, it may be time to start looking at fruit-based sorbet substitutes.”

Football’s world governing body has reduced prices on thousands of tickets before tournament opener in Miami on June 14, despite the presence of football superstar Lionel Messi.

Hoping to fill a lot of empty seats, FIFA is reportedly slashing ticket prices for the June 14 Club World Cup opener hosted by Inter Miami.

The Athletic reported on Wednesday that “tens of thousands” of seats at the 65,326-capacity Hard Rock Stadium in Miami Gardens, Florida, remain unsold for the 8pm ET match between football superstar Lionel Messi’s MLS club and Egyptian side Al Ahly.

FIFA rejected a suggestion that fewer than 20,000 tickets had been sold, insisting the number is “much higher” but declining to provide a specific total.

“We are introducing many new, successful clubs from all over the world to the world through this tournament being staged in the 11 cities across the United States,” FIFA said in a statement. “Overall, we anticipate great attendances throughout the competition for this first-ever edition – a tournament that we believe will grow edition-on-edition.”

As of Tuesday night, tickets for that game had dropped to $55 on Ticketmaster – half of what they were going for last month. The cheapest seat available after the tournament draw in December was $349 but had dropped to $230 by December, per The Athletic.

The 32-team FIFA Club World Cup runs through to July 13 and includes MLS clubs Inter Miami, Seattle Sounders and Los Angeles FC, plus global powerhouses like Real Madrid, Manchester City, Bayern Munich, Paris Saint-Germain, Chelsea and Inter Milan.

Simon Calder was speaking on ITV’s This Morning as he discussed different destinations for Brits to consider over summer – and one place stood out in particular for value

Travel expert Simon Calder has revealed the ultimate cost-effective hotspot for sun-seekers looking for a bargain break, tipping Bulgaria as a top budget-friendly summer destination. Simon waxed lyrical about the beauty spot, emphasising that savvy travellers can bask in all-inclusive luxury while enjoying prices reminiscent of a bygone era. “Bulgaria. It’s a great, great destination. Cheap as chips,” he raved.

“This is an all-inclusive favourite. Great long beaches and prices which are kind of out of the 1980s.” Reassuring that Bulgaria offers tremendous value, he said that it’s roughly a third of the cost compared to a holiday in Italy, with just a slight language challenge thrown into the mix.

READ MORE: Natalie Portman’s makeup artist takes anti-ageing gadget ‘on every job’ to shrink wrinkles

“It’s really cheap when you get there,” Simon declared. “So whatever you want, whatever you’d be spending in Italy for instance, you just divide it by three and that’s what you’d pay in Bulgaria.

“You’ve got to master the Cyrillic alphabet though. Back to front Rs and all that but it’s a three hour flight so just do that on the plane.”

According to Muveone, a pint of local beer in Bulgaria will only cost you around 3.00 BGN, which is roughly £1.50. The country offers popular destinations such as Burgas, a city on the Black Sea Coast.

It boasts stunning beaches and is just a short distance from the lively Sunny Beach – a favourite amongst young Brits. Visitors can also explore the city’s Sea Gardens, home to a vast array of sea plants from across the globe, designed by landscape artist Georgi Duhtev.

Alternatively, head to Lake Atanasovsko for a relaxing dip in its black mud pools for a natural yet luxurious spa experience.

Further south of Burgas lies the ancient seaside town of Sozopol. Here, the Old Town provides a glimpse into local history and the tranquil Kavatsite Beach.

Sozopol offers breathtaking views of the Black Sea, and tourists can take a boat trip to St Ivan Island to spot monk seals and birds.

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Winter fuel payment row

Standing charges

The cost of a trip to the beach in parts of Turkey including Bodrum have shot up in recent years, despite free access to the coast being enshrined in the law of the land

The sky-high price of spending an afternoon basking in the sun on some of Turkey’s best-known beaches has been revealed.

Each year, around 1.5million visitors flock to Bodrum city, which sits on the far south-western edge of Turkey and enjoys sunny days and warm seas. In recent years its reputation as one of the best value resort cities on the Aegean has been dented, as sky-high inflation rates across the country hit the pockets of citizens and visitors alike.

Since 2018, the country’s economy has been plagued by currency depreciation and high inflation, which has eroded households’ budgets. While annual inflation eased to 48.6 percent in October, down from 75.5 percent last May, the country’s cost-of-living crisis continues to weigh heavily on many. A recent report found that a quarter of retirees in the country have been forced back in work.

Do you have a holiday story to share? Email [email protected]

READ MORE: ‘Brit’ tourist ‘attacked’ on busy beach after refusing to use sunlounger

While the struggle is being felt most keenly by those living on low wages in the country, price rises are also very noticeable to tourists. This week Ersin Süzer, a famous columnist in Turkey, has shone the spotlight on the cost of a day at the beach in Bodrum.

While access to almost all beaches in Turkey is enshrined in law, in reality bars, restaurants and clubs are taking over more and more of the coastline in areas such as Antalya and Bodrum. Often, sun loungers crowd out sun worshippers who simply want to lounge on the sand.

In recent months, the ‘towel movement’ has sprung up, with angry locals heading to certain beaches en masse to protest against large developments. Among them is Omer Onal, a 71-year-old bookshop owner. He told Balkan Insight how frustrating the situation has become: “We can’t even demonstrate on the Ayayorgi coastline because there is no public path, only a beach club entrance.”

The issue of who controls the beach – and who is welcome to visit – came to a head in Damlatas Beach in the Alanya district of Antalya earlier this month. A tourist was beaten by resort staff after refusing to hire a sunbed because it was too expensive, it was reported.

To avoid a similar shock, it’s best to know how much you might be asked to pay when in Turkey.

Here is the minimum cost of spending a day at some of the better-known beaches of Bodrum, according to Mr Süzer.

• Lucca Beach: £84 (Minimum spend)
• Bobo by Stay: £114 (Minimum spend)
• Match Girl Hotel: £172 (Minimum spend)
• Mandarin Oriental: £134 (Entrance fee)
• Edition Hotel: £101 (Entrance fee)
• Buddha Bar and Beach: £189 (£63 entrance fee, £126 minimum spend)
• No 81 Hotel: £67 (Minimum spend)
• Flamm Hotel Beach: £67 (Minimum spend)
• Scorpios Beach: £143 (£58 entrace fee, £85 minimum spend)
• Highlight Hotel: £67 (Minimum spend)

By AP with Indrabati Lahiri

Published on
21/05/2025 – 11:32 GMT+2

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Oil prices surged on Wednesday after a report by CNN suggested that Israel could launch an attack on Iranian nuclear facilities, according to new US intelligence. 

US crude oil jumped 1.1% on Wednesday morning to $62.7 per barrel, whereas Brent crude oil advanced 1% to $66 per barrel. 

However, CNN emphasised that it wasn’t clear as yet whether a confirmed decision about the possible attack had been made.

Oil markets have been volatile for the last few days, mainly because of anticipation around the next round of Iran-US nuclear talks, due to be held this weekend. These talks are also expected to help increase global oil supply. 

However, any strike against Iran by Israel is likely to negatively impact these negotiations, which in turn, could further fuel Middle Eastern tensions and significantly affect oil markets. 

Although Israel has not been shy about its intentions to target Iran, several Iranian nuclear facilities may already be capable of defending themselves against the majority of strikes. 

Robert Rennie, head of commodity and carbon research for Westpac Banking Corp, said, as reported by Bloomberg: “This is the clearest sign yet of how high the stakes are in the US-Iran nuclear talks and the lengths Israel may go to if Iran insists on maintaining its commercial nuclear capabilities.”

He added: “Crude will maintain a risk premium as long as the current talks appear to be going nowhere.”

Traditional forex safe havens such as the Japanese yen and the Swiss franc also saw a slight boost following the release of the CNN report. 

US-Iran nuclear talks hang in the balance

In talks on the nuclear issue, Iranian officials have warned they could pursue a nuclear weapon with their stockpile of uranium enriched to near weapons-grade levels. US President Donald Trump has repeatedly threatened to unleash airstrikes targeting Iran’s program if a deal isn’t reached.

US special envoy Steve Witkoff said in an ABC News interview on Sunday, as reported by the BBC: “We cannot allow even 1% of an enrichment capability. We’ve delivered a proposal to the Iranians that we think addresses some of this without disrespecting them. We want to get to a solution here. And we think that will be able to.”

He added: “But everything begins from our standpoint with a deal that does not include enrichment. We cannot have that. Because enrichment enables weaponisation, and we will not allow a bomb to get here.”

Earlier this week, Iran’s Supreme Leader Ali Khamenei revealed that he did not believe that the latest round of talks between Iran and the US would be successful.

Despite rising sanctions from the US and some of its allies such as Europe and the UK, Iran has been able to continue exporting crude oil and has also increased its supply in the last few months.

Ongoing Middle Eastern conflicts such as the Israel-Hamas war and Houthi Red Sea attacks have gone a long way in souring relations between Israel and Iran in the last several months.

As such, any new attack, especially on Iran’s nuclear facilities may significantly affect the wider Middle Eastern region and further delay any hope of stability in the area.

KATIE Price’s boyfriend JJ Slater has been rushed to hospital in the night, after sharing a picture from A&E. 

The former glamour model, 46, confirmed her relationship with JJ last February.

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Katie’s boyfriend rose to fame on Married At First Sight, where he was romantically involved with Ella Morgan, but the pair have since split. 

Now, he’s shared a photo from hospital, and revealed a syringe in his arm. 

The reality star leg and body were in shot, and he wrote over the snap: “Hate to see it. 

“The reality of living with type 1 diabetes. Late nights in A&E.” 

It was back in 2023 when JJ was diagnosed with the life-changing condition after losing almost two stone.

He was told how his body had “deteriorated” and that his “life would never be the same” due to the condition.

JJ’s weight dropped from 13.3 stone to 12 stone ahead of his medical emergency.

He said of his symptoms at the time: “I was waking up four to five times needing the toilet.

“Then I started to lose weight quite quickly. I lost about a stone and a half in three weeks, but I was still eating the same and going to the gym every day.”

He added: “I hadn’t changed anything, but my body was deteriorating so I knew something was wrong.

“I was getting lightheaded often, I was on the sofa watching TV and then stood up and fell to the floor… so, I knew something wasn’t right.

“I had a blood test and my doctor said I probably wouldn’t hear anything until after Christmas, but I woke up the following morning to three missed calls from 111 and voicemails saying ‘as soon as you wake up, go to hospital’ … I have never woken up so quickly.

“I panicked thinking it was the worst news.”

Katie Price’s love life

We take a look back at the highs and lows of Katie Price’s relationship history.

1996-1998: Katie got engaged to Gladiators star Warren Furman – aka Ace – with a £3,000 ring. But their relationship didn’t make it as far as ‘I do’.

1998-2000: Katie described Dane Bowers as ‘the love of her life’ but she broke up with the singer when he allegedly cheated on her.

2001: Footballer Dwight Yorke is the father of Katie’s eldest child Harvey. He has had very little to do with Harvey throughout his life.

2002: Rebounding from Dwight, Katie famously had one night of passion with Pop Idol star Gareth Gates, allegedly taking his virginity.

2002-2004: Katie was dating Scott Sullivan when she entered the jungle for I’m A Celebrity…Get Me Out Of Here!. He threatened to “punch Peter’s lights out” when chemistry blossomed between her and Peter Andre.

2004-2009: The jungle romance resulted in Katie marrying Aussie pop star Peter. They had two kids, Junior and Princess, before their bitter split in 2009.

2010-2011: Fresh from her break-up with Peter, Katie enjoyed a whirlwind relationship and marriage with cage fighter Alex Reid. They split 20 months after their Las Vegas wedding.

2011: Katie briefly dated model Danny Cipriani… but it ended as quickly as it begun.

2011-2012: They didn’t speak the same language, but Katie got engaged to Argentinian model Leandro Penna in 2011. He later fled home to South America.

2012-2018: Wedding bells rang once more after Katie met Kieran Hayler in 2013. They had two kids together, Jett and Bunny, before their break-up and divorce.

2018-2019: Katie moved on quickly with Kris Boyson. They had an on-off romance for one year and even got engaged. They split for good in 2019.

2019: Katie was linked to Charles Drury during her on-off relationship with Kris. Charles, who also dated Lauren Goodger, has always denied being in “official relationship” with her.

2020-2023: Car salesman Carl Woods took a shining to Katie in 2020. Their relationship was up and down for three years. They broke up for a final time last year.

2024-present: After weeks of rumours, Katie confirmed her relationship with Married At First Sight star JJ Slater in February this year.

Since getting together with Katie, the couple have endured a rather rocky relationship.

Katie previously sparked concern the couple had parted ways after sharing a cryptic post about “trust”.

The ex-glamour model, who shot to fame as her alter-ego Jordan, has been engaged eight times and has previously had three husbands.

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President makes push to bring down drug prices that have long been a source of financial strain for US patients.

United States President Donald Trump has signed an executive order that he says will bring down the price of prescription drugs in the US by as much as 90 percent.

In an announcement on Monday, Trump said drug companies who have been “profiteering” will have to bring prices down but laid the blame for high prices primarily on foreign countries.

“We’re going to equalise,” Trump said during a news conference. “We’re all going to pay the same. We’re going to pay what Europe pays.”

People in the US have long been an outlier when it comes to the prices they pay for numerous types of life-saving medication, often paying several times more than their peers in other rich countries for nearly identical drugs.

That phenomenon is often attributed to the substantial economic and political influence that the pharmaceutical industry wields in the US.

The high cost of medical drugs has been a source of popular discontent in the US for years, and Trump accused the pharmaceutical industry of “getting away with murder” in 2017.

But in his remarks on Monday, the US leader also seemed to say that US pharmaceutical companies were not ultimately to blame for the difference in prices. Trump instead framed those high prices in the familiar terms of a trade imbalance with partners such as the European Union and said the US has been “subsidising” lower drug prices in other nations.

That perspective seems to align with the framing of the pharmaceutical industry itself. The industry’s most powerful lobbying arm stated the cause of high prices for US consumers is “foreign countries not paying their fair share”.

Senator Bernie Sanders, a left-wing politician who has railed against the high prices paid by US patients for years, said Trump’s order wrongly blames foreign countries rather than US companies for those prices.

“I agree with President Trump: it is an outrage that the American people pay, by far, the highest prices in the world for prescription drugs,” Sanders said in a statement.

“But let’s be clear: the problem is not that the price of prescription drugs is too low in Europe and Canada. The problem is that the extraordinarily greedy pharmaceutical industry made over $100bn in profits last year by ripping off the American people.”

A fact sheet shared by the White House said the administration will “communicate price targets to pharmaceutical manufacturers to establish that America, the largest purchaser and funder of prescription drugs in the world, gets the best deal”.

The stock prices of US drugmakers ticked upwards after the announcement. Experts have cast doubt on Trump’s optimistic assertion that drug prices would drop quickly and substantially.

“It really does seem the plan is to ask manufacturers to voluntarily lower their prices to some point which is not known,” Rachel Sachs, a health law expert at Washington University in St Louis, Missouri, told The Associated Press news agency.

“If they do not lower their prices to the desired point, HHS [the Department of Health and Human Services] shall take other actions with a very long timeline, some of which could potentially, years in the future, lower drug prices.”

May 12 (UPI) — U.S. President Donald Trump on Sunday night said he will sign an executive order to reduce drug prices in the United States by between 30% and 80% with the aim of equalizing global prices.

No details of the executive order, which Trump said he’d sign Monday morning, were released, and it was not immediately clear how exactly the order would work.

He made the announcement in a post to his Truth Social platform, calling the executive order “one of the most consequential … in our Country’s history.”

“Prescription Drug and Pharmaceutical prices will be REDUCED, almost immediately, by 30% to 80%. They will rise throughout the World in order to equalize and, for the first time in many years, bring FAIRNESS TO AMERICA!”

In the statement, Trump said he would be instituting a “MOST FAVORED NATION’S POLICY whereby the United States will pay the same price as the Nation that pays the lowest price.”

He said the executive order would be signed 9 a.m. EDT Monday at the White House.

Trump had tried during his first term to institute a Most Favored Nation policy via executive order to tie U.S. prescription drug prices for Medicare to the world’s cheapest price tags but was met with successful legal challenges from the pharmaceutical industry.

PhRMA, a pharmaceutical trade group, criticized the original version of the plan from Trump’s first term as “bad policy,” stating it will limit seniors’ access to existing medicine and hamper development of new drugs.

Dr. Houman David Hemmati, a California physician and critic of California’ s Democratic governor, Gavin Newsom, said the policy is “a strong step toward fairness” but does present risks.

On X, he said it could limit patient access to drugs in those countries where the drugs’ prices are cheapest, as drug makers might pull out of those markets. It could also affect development, especially of generic drugs, which could also be pulled from shelves.

“A generic priced very low abroad might disappear if the U.S. demands that price, impacting access to essentials like insulin,” he said, adding that countries reliant on low prices might face drug access issues, and the United States might see delays in new drug launches.

According to a January 2024 report from the Health and Human Services’ Office of the Assistant Secretary for Planning and Evaluation, the prices across all drugs in the United States were at least 2.78 times higher than in comparison countries and at least 3.22 times as high for brand drugs.

In his Sunday night statement, Trump said that with his new policy, “Our Country will finally be treated fairly and our citizens Healthcare Costs will be reduced by numbers never even thought of before.”

He said the United States will save trillions of dollars.

In April, Trump signed an executive order directing the Department of Health and Human Services to standardize Medicare payments to reduce the price of prescription drugs.