President Donald Trump says he is looking to reduce the price of prescription drugs this week.
In a post on Truth Social Sunday evening, Trump said he would sign an executive order Monday morning to ensure the U.S. pays the same price as the lowest costs paid by any other nation. He said he expects the order will reduce the cost of pharmaceuticals by 30% to 80%.
“Our Country will finally be treated fairly, and our citizens [sic] Healthcare Costs will be reduced by numbers never even thought of before,” he wrote in the post. “Additionally, on top of everything else, the United States will save TRILLIONS OF DOLLARS.”
It is unclear if the executive order is a tariff on pharmaceuticals that Trump has suggested since February. The president did not provide further details about how the order would be executed.
Trump is expected to sign the order at 9 a.m. Eastern Time.
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