We love most of Donald Trump’s Executive Orders, but this one may be the worst.

Trump will order draconian price controls on almost all patented pharmaceutical drugs as a retaliation against the outrageous price controls imposed by foreign countries:

Trump’s right that these foreign price controls are a back door form of patent theft from our U.S. drug companies. It’s the U.S. that covers the R&D costs and the lion’s share of the return on capital investment.

It’s a huge free rider problem. But we know medical price controls stymie innovation. Here’s what happened in response to medical device price controls a few years ago based on a recent study:

Ironically, Trump has also said he wants to be the president who wins the race for the cure for cancer, Alzheimer’s, MS, and epilepsy.

We are for severe U.S.retaliation against foreign price controls on American-made drugs. But the victims of this policy won’t be foreigners, but Americans suffering from these terrible diseases.