Aspirin prices in the United States are expected to decline by the end of May, following a trend observed last month and spurred by significant policy changes under President Donald Trump’s administration. The catalyst behind the anticipated price drop is the newly revived “Most Favored Nation” (MFN) pricing strategy, a bold move aiming to bring U.S. prescription drug prices—including those of Aspirin—in line with the lowest prices paid internationally.

Trump signed a broad executive order on May 12 that forces drug manufacturers to bring the price of drugs such as Aspirin down to that of countries where identical drugs sell cheaply. The order mandates drugmakers to demonstrate "substantial progress" in 30 days toward cheaper medicines. Tariffs on imported pharmaceuticals would be leveled if they refuse to comply.

The proposal aims at 59% to 90% discounts, and commonly used medicines such as Aspirin are under particular scrutiny. As a household over-the-counter medication, the price rollback of Aspirin would be a respite for tens of millions of American consumers in the near term and signify a wider change in pharmaceuticals pricing policy to affordability for generics such as Aspirin.

The MFN strategy has sparked significant ripples in global pharmaceutical markets. Indian and Asian drug manufacturers, many of whom export affordable generic versions of Aspirin and other medications to the U.S., have seen their stocks tumble in response. India, as a leading supplier of generic Aspirin to the U.S., is expected to face a complex scenario. While American consumers may benefit from reduced prices, Indian manufacturers could encounter squeezed profit margins due to export price pressures and revised sourcing dynamics for Aspirin.

Additionally, the MFN directive may influence international trade relationships, particularly with key pharmaceutical trade partners. With the U.S. pushing to recalibrate its pricing structure for drugs like Aspirin, nations exporting patented medications may respond with shifts in pricing strategies of their own, potentially impacting Indian drug costs and trade balances, including those involving Aspirin exports.

Trade tensions further complicate the scenario. A looming July 9 deadline marks the expiration of a reciprocal tariff pause between the U.S. and several trading partners, while the China-U.S. tariff de-escalation expires on August 14. These deadlines add uncertainty to import costs and freight rates, though recent frontloading of shipments—potentially including Aspirin—may help mitigate immediate supply chain disruptions.

As the policy clock ticks, analysts believe the immediate result will be a tangible decrease in the cost of drugs like Aspirin in the U.S. market. While the long-term effects on pharmaceutical innovation and global trade remain to be seen, the move marks a pivotal moment in the effort to make essential medications such as Aspirin more affordable for American patients.