Trump to sign prescription drug executive order that he says could lower costs up to 80%

President Trump announced on Sunday that he will 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.

"Campaign Contributions can do wonders, but not with me, and not with the Republican Party. We are going to do the right thing, something that the Democrats have fought for many years. Therefore, I am pleased to announce that Tomorrow morning, in the White House, at 9:00 A.M., I will be signing one of the most consequential Executive Orders in our Country’s history," Trump wrote on Truth Social.

"Prescription Drug and Pharmaceutical prices will be REDUCED, almost immediately, by 30% to 80%. They will rise throughout the World in order to equalize and, for the first time in many years, bring FAIRNESS TO AMERICA!" he added.

Trump said he will be instituting a "most favored nation’s policy whereby the United States will pay the same price" as the nation that pays the lowest price anywhere in the world. 

"Our Country will finally be treated fairly, and our citizens Healthcare Costs will be reduced by numbers never even thought of before. Additionally, on top of everything else, the United States will save TRILLIONS OF DOLLARS," he wrote.