United States President Donald Trump announced on Sunday that he will sign an executive order aimed at significantly reducing the cost of prescription drugs and pharmaceutical products.
In a social media post, Trump stated, “Prescription Drug and Pharmaceutical prices will be reduced, almost immediately, by 30 to 80 percent.” He added that the move would help equalize prices globally and restore fairness to American consumers.
According to Trump, the executive order — which he described as potentially one of the most consequential in U.S. history — is scheduled to be signed at 9 a.m. (1300 GMT) on Monday.
Earlier this week, Trump teased an “earth-shattering” announcement, which U.S. media speculated would target high drug prices. Currently, the United States lacks centralized government regulation over pharmaceutical pricing, unlike many other countries. As a result, Americans often pay significantly more for medications than patients elsewhere.
In the U.S., the pharmaceutical industry largely sets drug prices, with limited government oversight, leading to steep costs for many essential treatments.
While details of Trump’s plan remain unclear, it is expected to face significant resistance from pharmaceutical companies. The president previously attempted to reduce drug prices during his first term, proposing discounted access to medications like insulin and EpiPens for low-income individuals and linking Medicare payments to international price benchmarks. However, that proposal was never implemented due to legal and political pushback.
This time, Trump said he intends to enforce a “most favored nation” policy, ensuring the U.S. pays no more for medications than the lowest price paid by any other country.
He also accused Democrats of obstructing past efforts to lower drug prices, although his predecessor, President Joe Biden, made drug regulation a key policy area. In 2022, Biden signed a sweeping legislative package granting Medicare the authority to negotiate prices for certain drugs — a move widely seen as a historic step.
