US President Trump says the US has historically been subsidising nations pharmaceutical prices, Trump tariffs achieved a favoured nation policy. French President Macron was "tough" in his address at Davos on Tuesday, Trump says he "actually likes" Macron.

• On pharmaceuticals, says European prices do not need to go up all the way they can go up a "little bit" (suggests doubling from USD 10 to USD 20) and the US can go down a lot.
• Says he threatened French President Macron, and other unnamed leaders he spoke to, with 20%, 30% or 35% tariffs depending on the nation, if they did not agree to the above drug/pharmaceutical price change.
• US pharmaceutical prices will come down some 90%.

Trump's remarks at Davos highlight a push for changes in pharmaceutical pricing that could significantly impact U.S.-Europe trade relations. His threats of tariffs suggest a potential escalation in trade tensions, which may affect currencies like the USD and EUR, as well as influencing equities and sectors linked to pharmaceuticals. The commitment to lower U.S. drug prices by up to 90% implies a fundamental shift in policy that could have lasting implications for market dynamics.