Trump says will sign order aimed at cutting US drug prices to lowest in the world

President Donald Trump unveiled plans Sunday for a new policy on pharmaceuticals he claimed would reduce US prescription drug prices by between 30 and 80 percent.

“They will rise throughout the World in order to equalize and, for the first time in many years, bring FAIRNESS TO AMERICA!” Trump wrote in a social media post, adding he planned to sign an executive order bringing the new policy into effect at 9:00 am (1300 GMT) on Monday.

Trump said he planned to institute a “MOST FAVORED NATION’S” policy that pinned the cost of drugs sold in the United States to the lowest price paid by any other country in the world.

The reduction in prescription drug costs in the United States would, he added, be counterbalanced by higher costs in other countries.

“For many years the World has wondered why Prescription Drugs and Pharmaceuticals in the United States (sic) of America were SO MUCH HIGHER IN PRICE THAN THEY WERE IN ANY OTHER NATION,” Trump said.

“Campaign Contributions can do wonders, but not with me, and not with the Republican Party,” he added. “We are going to do the right thing.”