WASHINGTON ―President Donald Trumpsaid he will sign an executive order that institutes a "most favored nation" policy for drug pricing, claiming the action will reduce prescription drug and pharmaceutical prices "almost immediately, by 30% to 80%." The order, which he plans to sign at 9 a.m. ET on May 12 from the White House, would look to set prices of certain drugs covered by Medicare to the lowest level paid by comparable countries. "I 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," Trumpsaid in a post on Truth Social. "Our Country will finally be treated fairly, and our citizens Healthcare Costs will be reduced by numbers never even thought of before." This is a developing news story. Please follow@USATODAYfor additional updates. Reach Joey Garrison on X @joeygarrison. This article originally appeared on USA TODAY:Trump to sign executive order seeking to reduce drug prices
