U.S. President Donald Trump on Sunday night said he will sign an executive order to reduce drug prices in the United States by between 30% and 80% with the aim of equalizing global prices.

President Donald Trump announced Sunday that he plans to resurrect a controversial policy from his first term that aims to reduce drug costs by basing payments for certain medicines on their prices in other countries.

President Trump will sign an executive order that institutes a "most favored nation" policy for prescription drug pricing in a push to lower prices.