The president will sign an executive order next week he promises will reduce prescription drug prices by up to 80 percent “almost immediately,” Donald Trump announced on Sunday on Truth Social.
Earlier in the day, Trump heralded the announcement as “one of the most important and impactful” of his career.
The president said the order, to be signed Monday morning, will institute a “most favored nation’s” policy, where the U.S. will buy drugs at a price matching the lowest rate paid by a country for each medicine.
“Our Country will finally be treated fairly, and our citizens’ Healthcare Costs will be reduced by numbers never even thought of before,” Trump said in his announcement, claiming, “We are going to do the right thing, something that the Democrats have fought for many years.”
The announcement did not detail how Trump plans to implement his plans or achieve such rapid savings.
The White House plans to pursue discounts on a selection of drugs purchased through the Medicare federal health insurance program, Politico reported earlier this week, after attempts to lobby congressional Republicans to include similar provisions in a spending bill reportedly fell flat.
This is a breaking news story and will be updated with new information.
