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The US was for decades the exemplar of free market globalisation. That changed with Donald Trump's 'America first' agenda. CBS News correspondent Errol Barnett discusses the prescription drug pricing reform provisions in the 48 million Americans get prescription drugs through Medicare Part D, but Medicare has had no ability to negotiate prices.
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Inflation Reduction Act Explained in 3 Minutes 2025!
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Inflation Reduction Act Explainer
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How the Inflation Reduction Act aims to reduce prescription drug costs
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Last Updated: May 25, 2026
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