The order is based on a "most favored nation" pricing model, which is similar to a policy Trump pushed in his first administration.

In signing an executive order aimed at reducing U.S. drug prices, President Donald Trump said some prices would be cut in half or more "almost immediately." But the order is light on details of how the plan would be implemented.

President Donald Trump signed a sweeping executive order Monday morning that promises to crack down on “unreasonable and discriminatory practices” by foreign countries that result in Americans paying far higher prices for prescription drugs,