Trump Signs Order Aimed at Cutting Drug Prices

The ‘Most Favored Nation’ plan will reduce U.S. prices by up to 80 percent, the president said.

President Donald Trump speaks alongside Medicare and Medicaid Administrator Mehmet Oz (L) and Food and Drug Administration Commissioner Martin Makary (R) during a news conference about prescription drug prices, in the White House on May 12, 2025. Jim Watson/AFP via Getty Images

President Donald Trump has announced a plan that he said would lower prescription drug prices in the United States by up to 80 percent.

The president signed the Most Favored Nation Drug Pricing executive order at the White House on May 12.