President Donald Trump says he will announce a new prescription drug initiative he promises will dramatically—and immediately—reduce the price of pharmaceuticals.

“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 said in a Sunday evening announcement on X. “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!”

The president said he will institute a “most favored nation’s” policy under which Americans will pay “the same price as the Nation that pays the lowest price anywhere in the World.”

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