Trump in announcing executive order on lowering drug prices blames foreign nations for high costs

President Trump announced on Monday that drug prices will be dropped "between 59%, 80%, 90%."

"Starting today, the U.S. will no longer subsidize healthcare of foreign countries," Trump said, adding that they pay a fraction of drug prices.

Trump announced on Sunday that he would be signing an executive order on Monday that will lower prescription drug prices in the U.S. by up to 80%.

Trump said pharmaceutical companies often attribute higher drug costs in the U.S. to research and development costs when compared to other countries.

Trump called lobbyists for drug companies, commonly referred to a "Big Pharma,"  the "most powerful lobby" group in the world.