Business
Trump unveils health-care plan outline as Congress wrestles over Obamacare subsidies
U.S. President Donald Trump, in front of U.S. Secretary of Health and Human Services Robert F. Kennedy Jr., delivers remarks at the White House, in Washington, D.C., U.S., Sept. 22, 2025.
Kevin Lamarque | Reuters
President Donald Trump on Thursday rolled out the broad outline of a health-care plan that the White House claims will lower drug prices and insurance premiums.
The announcement came as a congressional effort to extend key Affordable Care Act tax credits faces headwinds from Senate Republicans, leaving millions at risk of seeing their health insurance premiums spike.
The Trump administration dubbed the initiative “The Great Healthcare Plan,” the president said in a video unveiling the policy Thursday morning.
“I’m calling on Congress to pass this framework into law without delay,” Trump said. “Have to do it right now.”
The plan would codify the deals Trump recently struck with major drugmakers to slash the cost of certain prescription drugs in the U.S. by pegging them to lower prices abroad, as part of his “most-favored-nation” policy.
More than a dozen pharmaceutical companies agreed to lower prices on certain products for Medicaid patients in exchange for a three-year exemption from tariffs.
As part of those deals, companies also agreed to sell some medicines at a discount on Trump’s direct-to-consumer platform, Trump Rx.
Trump, in his video announcement, said those lower drug prices will take effect on the platform when it launches this month. He claimed that those prices would plunge by as much as 500%, even though that would mean prices would fall far below $0.
The health-care framework would “make more verified safe pharmaceutical drugs available for over-the-counter purchase,” according to a White House fact sheet.
It would also purportedly send money for health insurance coverage “directly to the American people” instead of giving “big insurance companies billions in extra taxpayer-funded subsidy payments,” the fact sheet says. Trump has repeatedly floated similar proposals in recent remarks.
The plan would additionally “fund a cost-sharing reduction program,” which the administration says would “reduce the most common Obamacare plan premiums by over 10%.”
Other components of the policy include requiring health insurers to prominently post coverage comparisons “in plain English” on their websites, along with other information about overhead costs and claim denial rates.
It would also require providers who accept either Medicare or Medicaid “to publicly and prominently post their pricing and fees to avoid surprise medical bills.”
The new proposal from the White House comes as senators remain at loggerheads on a deal to extend the now-lapsed ACA, or Obamacare, subsidies. A bipartisan group of senators has been working for weeks on a way forward, but hit a snag recently on language relating to the Hyde Amendment, a statute that bars the use of federal funds for abortion services.
White House Press Secretary Karoline Leavitt holds a press briefing at the White House in Washington, D.C., U.S., January 15, 2026.
Evelyn Hockstein | Reuters
The White House plan notably leaves out an extension of the ACA subsidies, which Democrats are demanding be extended as a part of any health-care deal. The White House had not publicly put forward a proposal until Thursday, but Trump has repeatedly said he wants funds to go directly to patients rather than insurance companies.
Some negotiators wondered whether the White House plan would hamper negotiations.
“We’ve all known that in order to be able to advance something, we’re going to have to have buy-in from the White House,” Sen. Lisa Murkowski, R-Alaska, one of the negotiators, told reporters Thursday. “Does this set things back if he signals that he does not support extending [the subsidies]? I mean, that’s the basis of our plan here.”
Sen. Jeanne Shaheen, D-N.H., who is leading talks on the Democratic side, said Thursday that she hadn’t yet seen the Trump plan, but signaled optimism about the discussions.
“Most of the areas have agreement, so what we need to do is get bill text together and then get final sign-off so that we can talk to our colleagues about what we’re proposing,” Shaheen told reporters.
A White House official on Thursday said the plan does not close the door on extending the subsidies, but lays out the president’s preferences.
“This does not specifically address those bipartisan congressional negotiations that are going on,” the White House official said. “It does say that we have a preference that money goes to people, as opposed to insurance companies.”
Business
Stock Market Updates: Sensex Tanks 1,100 Points, Nifty Tests 24,450; India VIX Jumps Over 11%
Last Updated:
The Nifty50 and the Sensex declined at open amid weak global cues.
Sensex Today
Indian benchmark equity indices extended their losses in a volatile trading session on Friday as investors remained cautious amid escalating tensions in West Asia linked to the US-Iran conflict.
As of 3:19 PM, the Nifty50 was trading 1.21 per cent or 300 points down at 24,465, and the Sensex was trading 1,136 points or 1.42 per cent down at 78.879.
Market volatility spiked during the session, with the India VIX rising as much as 11.31% to 19.88.
Among Nifty50 constituents, InterGlobe Aviation, ICICI Bank, and Max Healthcare Institute were the top losers. On the other hand, Bharat Electronics Limited, Reliance Industries, and NTPC Limited were among the top gainers.
Broader markets also traded lower, with the Nifty Midcap 100 and Nifty Smallcap 100 declining 0.47% and 0.06%, respectively.
On the sectoral front, the Nifty IT Index was the only major gainer, rising 0.34% on the back of gains in Persistent Systems and Infosys.
Meanwhile, the Nifty Realty Index emerged as the worst-performing sector, falling nearly 2%, dragged down by losses in Godrej Properties, The Phoenix Mills, and Prestige Estates Projects.
The Nifty Private Bank Index and Nifty Financial Services Index were also among the major laggards during the session.
Global cues
Most markets across the Asia-Pacific region traded in the red as crude oil prices climbed amid rising concerns over supply disruptions linked to the escalating conflict involving the United States, Israel, and Iran.
In Asia, mainland China’s CSI 300 Index slipped around 0.1%, while South Korea’s Kospi Index declined 1.6%.
Overnight on Wall Street, the S&P 500 fell 0.57%, while the Dow Jones Industrial Average dropped 1.61%. The Nasdaq Composite ended 0.26% lower.
Market uncertainty also intensified after Letitia James and attorneys general from 23 US states reportedly filed another lawsuit seeking to block tariff measures announced by Donald Trump.
Oil and gold prices
Oil prices surged as traders remained concerned about potential supply disruptions. According to a Reuters report, Brent crude futures rose nearly 5% to $85.41 per barrel in the previous session.
During the Asian trading session, Brent Crude Oil was trading 0.15% higher at $84.16 per barrel.
Meanwhile, safe-haven demand pushed Gold Futures up 1.34% to $5,146.39, supported by ongoing geopolitical tensions.
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March 06, 2026, 09:20 IST
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ISLAMABAD: Pakistan and the International Monetary Fund held virtual discussions during which the IMF reportedly urged the government to increase petrol and diesel prices immediately, according to official sources.
No Subsidy on Fuel
Sources said the IMF advised Pakistan not to provide any subsidy on petroleum products and instead pass the full impact of global price increases on to consumers.
The lender also emphasised that the government must ensure the Petroleum Development Levy (PDL) target of Rs1,468 billion by June 30 remains unaffected.
Revenue Collection Update
Officials revealed that Rs822 billion has already been collected through the petroleum levy during the first six months of the fiscal year, achieving more than 60% of the annual target between July and December.
Measures to Control Current Account Deficit
The talks also focused on potential steps to manage Pakistan’s current account deficit.
Proposals under consideration include:
Shifting schools and colleges to online classes
Introducing smart working arrangements in government offices and universities
Adjusting market and shop timings
Promoting online delivery services for groceries and restaurants
Officials said a comprehensive implementation plan will be prepared based on these recommendations.
Petroleum Supply Situation
Despite discussions on fuel pricing, sources confirmed that Pakistan’s petroleum reserves remain at satisfactory levels, ensuring stable fuel availability in the country.
Business
Asian stocks today: Kospi drops 1.6% as Middle East tensions weigh on markets – The Times of India
Asian stocks mostly fell on Friday as the ongoing conflict in the Middle East continued to unsettle global markets, while oil prices remained elevated despite some efforts to ease supply concerns.After a difficult week on trading floors, investors are heading into the weekend uncertain about when the US-Israel war on Iran and Tehran’s attacks across the Gulf region might end.Global equities have been battered by the crisis, which has pushed crude prices sharply higher and raised fears of renewed inflation that could weigh on the global economy. Oil prices have surged by about a fifth since last Friday, the day before the attacks began.Although markets saw a rebound in the middle of the week, analysts warned that the longer the conflict continues, the more pressure it will put on financial markets.“It is too soon to suggest that stocks have bottomed,” wrote IG chief market analyst Chris Beauchamp, as quoted by AFP.“Unless the war ends soon- and if anything a more intense conflict seems more likely- markets will struggle. Volatility remains elevated, which means we should expect plenty of two-way price action, but a continued decline for the moment seems likely, even with short-term bounces along the way.”The conflict also appears unlikely to ease soon. Iranian foreign minister Abbas Araghchi said Thursday that Iran was neither seeking a ceasefire nor negotiations with the United States.Asian markets largely followed losses on Wall Street, where all three main indexes ended lower despite staging late rallies.Seoul again saw sharp movement. The Kospi index, which plunged nearly 19 percent on Tuesday and Wednesday before rebounding more than nine percent on Thursday, fell another 1.5 per cent.Sydney, Singapore, Wellington, Manila and Jakarta were also down, while Tokyo, Hong Kong, Shanghai and Taipei managed gains.Concerns about rising crude prices have also intensified fears that inflation could climb again, potentially forcing central banks to reconsider plans to cut interest rates, with some analysts warning that rate hikes could even return.While Iran has not officially shut off the Strait of Hormuz, shipping through the key waterway has all but dried up. Around a fifth of the world’s crude supply and large volumes of gas normally pass through the strait.There was some relief in oil markets after US Interior Secretary Doug Burgum said officials were considering measures to ease the surge in prices.The White House also temporarily eased sanctions against Russia on Thursday, allowing Russian oil currently stranded at sea to be sold to India until April 3.Treasury Secretary Scott Bessent said the waiver was issued “to enable oil to keep flowing into the global market.”Earlier this week, US President Donald Trump pledged to protect ships passing through the Strait of Hormuz.Other countries have also taken steps to secure supplies. According to Bloomberg News, China has asked its largest oil refiners to suspend exports of diesel and gasoline amid fears of shortages.Despite the small pullback, oil prices remain high. By the end of trading Thursday, Brent crude had risen about 19 percent since last Friday, while West Texas Intermediate had climbed more than 22 percent, briefly crossing $80 a barrel for the first time since January last year.Investors are also watching the release of US jobs data later on Friday for clues about the strength of the world’s largest economy.At around 0230 GMT, oil prices were higher, with West Texas Intermediate rising 2.0 percent to $79.38 per barrel and Brent North Sea Crude up 1.5 percent at $84.10 per barrel. In equity markets, Seoul’s Kospi fell 1.6 percent to 5,497.51, while Tokyo’s Nikkei 225 rose 0.4 percent to 55,490.04. Hong Kong’s Hang Seng Index gained 0.9 percent to 25,557.59 and Shanghai’s Composite edged up 0.1 percent to 4,111.86. In currency trading, the euro strengthened to $1.1617 from $1.1604 on Thursday, while the pound rose slightly to $1.3367 from $1.3357. The dollar slipped to 157.51 yen from 157.55 yen, and the euro rose to 86.91 pence from 86.87 pence.
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