President Donald Trump announced via Truth Social his intention to sign a transformative executive order aimed at reducing prescription drug prices in the United States by 30% to 80% “almost immediately.”

The signing was scheduled for the following morning at 9:00 A.M. in the White House, marking what Trump described as “one of the most consequential Executive Orders in our Country’s history.”

This move is part of a broader effort to address the long-standing issue of inflated drug prices in the U.S., which Trump claims are often five to ten times higher than in other nations for identical medications produced by the same companies in the same facilities.

Central to the executive order is the implementation of a “Most Favored Nation” (MFN) policy, which mandates that the United States pay the same price for prescription drugs as the nation with the lowest price globally.

Trump emphasized that this policy would ensure fairness for American consumers, who have historically borne disproportionate costs compared to other countries.

He acknowledged that the order might lead to increased drug prices globally but argued that it would “bring FAIRNESS TO AMERICA” for the first time in decades.

The MFN approach is intended to align U.S. drug prices with those in other high-income countries, potentially saving taxpayers billions. A similar proposal during Trump’s first term was projected to save over $85 billion over seven years.

Trump’s announcement highlighted his criticism of pharmaceutical companies, which he accused of exploiting American consumers by attributing high prices to research and development costs borne solely by the U.S.

He described the system as “broken” and influenced by Big Pharma’s campaign contributions, a sentiment echoed in posts on X.

The executive order is positioned as a direct challenge to these practices, aiming to reduce healthcare costs for Americans by unprecedented margins.

Trump’s rhetoric also framed the initiative as fulfilling a long-standing Democratic goal, suggesting bipartisan appeal despite likely opposition from the pharmaceutical industry.

The announcement has already sparked reactions on X, with users predicting significant market volatility, particularly for pharmaceutical stocks.

Posts suggest that major companies like Pfizer and Moderna could face short-term challenges, while companies focused on generics might see long-term benefits if prices for generic drugs decrease.

The pharmaceutical industry has historically opposed such measures, with a spokesperson from the Pharmaceutical Research and Manufacturers of America warning that government price-setting could harm patients.

The order’s focus on Medicare, as noted by industry lobbyists, may expand beyond drugs currently subject to negotiation under the Inflation Reduction Act, potentially intensifying industry pushback and leading to litigation.