Photo: Scott Olson/Getty Images

The Trump administration’s latest move on drug prices is designed in part to raise prices in Europe. And that’s not the first time the White House has focused on raising prices abroad — the recent trade deal with Canada and Mexico could as well.

"Both could, at least plausibly, address the president’s stated goal of increasing how much other countries pay for drugs," says Benedic Ippolito of the American Enterprise Institute.

How it works: The trade deal gives biologics 10 years of data protection in all 3 countries.

  • "More patent protection mechanically increases Canadian payments for those drugs, though likely will not affect what we pay," Ippolito says.
  • And if the Trump administration ties Medicare Part B drug prices to European prices, drug companies can "strategically game the system — for example, they can focus their efforts on raising prices in the countries included in the basket or delay introduction of medicines in those countries so as not to affect the U.S. price," Harvard professor Suerie Moon says.

"I would say there is a relationship between the two measures — in both cases the industry's bottom line is amply protected and may even be expanded," Moon adds.

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Updated 10 mins ago - World

China says U.S. is "endangering peace" with high-level visit to Taiwan

Health and Human Services Secretary Alex Azar during a June briefing in Washington, DC. Photo: Joshua Roberts/Getty Images

Health and Human Services Secretary Alex Azar announced Tuesday night he will lead a delegation to Taiwan "in the coming days."

Why it matters: It's the highest-level visit by a U.S. cabinet official to Taiwan since 1979. Azar is also the first U.S. Cabinet member to visit the island state in six years. The visit has angered China, which views Taiwan as part of its territory. Chinese officials accused the U.S. early Wednesday of "endangering peace" with the visit, AFP reports.

Updated 54 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3:30 a.m. ET: 18,543,662 — Total deaths: 700,714 — Total recoveries — 11,143,031Map.
  2. U.S.: Total confirmed cases as of 3:30 a.m. ET: 4,771,236 — Total deaths: 156,807 — Total recoveries: 1,528,979 — Total tests: 57,543,852Map.
  3. States: New York City health commissioner resigns in protest of De Blasio's coronavirus response — Local governments go to war over schools.
  4. Public health: 59% of Americans support nationwide 2-week stay-at-home order in NPR poll.
  5. Politics: Trump's national security adviser returns to work after coronavirus recovery Republicans push to expand small business loan program.
  6. Sports: Indy 500 to be held without fansRafael Nadal opts out of U.S. Open.
Updated 2 hours ago - World

At least 100 killed, 4,000 injured after massive explosion rocks Beirut

Photo: Anwar Amro/AFP via Getty Images

A major explosion has slammed central Beirut, Lebanon, damaging buildings as far as several miles away and injuring scores of people.

Driving the news: At least 100 people have been killed and over 4,000 injured in the blast — and the death toll is likely to rise, the Lebanese Red Cross said, per AP. Prime Minister Hassan Diab said the explosions occurred at a warehouse that had been storing 2,750 tons of ammonium nitrate for the past six years.