 "US President Donald Trump signs an executive order on tariffs in the Rose Garden at the White House in Washington, D.C., U.S. File image/Reuters")
US President Donald Trump has signed an executive order moving marijuana out of the most restrictive drug category. The move is likely to relax the limits of cannabis for research purposes and some restrictions, but it still does not make it legal nationwide.
“I’m pleased to announce that I will be signing an Executive Order to reschedule marijuana from a Schedule I to a Schedule III controlled substance with legitimate medical uses," Trump said at the Oval Office.
He added, “This reclassification order will make it far easier to conduct marijuana-related medical research, allowing us to study benefits, potential dangers and future treatments. It’s going to have a tremendously positive impact.”
What will change?
The move would pave the way for a pilot program to reimburse Medicare patients for products containing CBD, a widely used cannabis-derived compound that does not cause a high.
Under the order, marijuana would be reclassified from Schedule I, alongside drugs such as heroin, to Schedule III, a category that includes ketamine. Senior administration officials told The New York Times that the change would not legalise marijuana nationwide or alter how law enforcement agencies handle marijuana-related arrests.
Being under Schedule III would mean that marijuana would be placed with certain pain medications that are given on prescriptions, while keeping recreational use illegal at the federal level. The order still has to go through the Drug Enforcement Administration’s (DEA) approval and rule-making. The reclassification could facilitate scientific research and provide relief to legal cannabis businesses by easing federal tax penalties and improving access to banking services.
‘Common sense’
A senior US official told reporters it was a “common-sense decision.”
Trump, who was surrounded by white-coated medical experts for Thursday’s announcement, added that the order “is not the legalization” of marijuana.
The teetotal 79-year-old added: “I’ve always told my children, don’t take drugs, no drinking, no smoking, and just stay away from drugs.”
Quick Reads
View AllCannabis companies were trading higher on the New York Stock Exchange after the announcement – although they were already up this week in anticipation of the news.
As of 1910 GMT, Aurora Cannabis was up 8.62 per cent, Canopy Growth was up 10.94 per cent, and Tilray was up 6.40 per cent. Canopy Growth’s share price has jumped nearly 90 per cent in just one week.
US presidents cannot unilaterally reclassify a drug, but Republican Trump’s order directs Attorney General Pam Bondi to expedite the process.
With inputs from agencies