Trump promises to sign 'one of the most consequential' executive orders made in history

Trump is set to sign 'one of the most consequential' executive orders in US history, addressing a 'very embarrassing' issue.

Since becoming president of the US, Trump has signed a record number of executive orders.

In a post to Truth Social yesterday (May 11), the POTUS revealed he's set to sign 'one of the most consequential' executive orders not just since he was sworn in for his second term, but in the history of the US.

This morning at 9:00am at the White House, Trump is subsequently set to sign an executive order set to slash the cost of prescription drug prices.

His post reads: "For many years the World has wondered why Prescription Drugs and Pharmaceuticals in the United States States of America were SO MUCH HIGHER IN PRICE THAN THEY WERE IN ANY OTHER NATION, SOMETIMES BEING FIVE TO TEN TIMES MORE EXPENSIVE THAN THE SAME DRUG, MANUFACTURED IN THE EXACT SAME LABORATORY OR PLANT, BY THE SAME COMPANY???

"It was always difficult to explain and very embarrassing because, in fact, there was no correct or rightful answer."

The post continues: "The Pharmaceutical/Drug Companies would say, for years, that it was Research and Development Costs, and that all of these costs were, and would be, for no reason whatsoever, borne by the 'suckers' of America, ALONE.

"Campaign Contributions can do wonders, but not with me, and not with the Republican Party. We are going to do the right thing, something that the Democrats have fought for many years."

Trump announced the order is set to reduce prescription drug and pharmaceutical prices 'almost immediately' 'by 30 percent to 80 percent'.

Trump is set to sign an executive order reducing prescription drug prices (SAUL LOEB/AFP via Getty Images)

"They will rise throughout the World in order to equalize and, for the first time in many years, bring FAIRNESS TO AMERICA!" Trump's post adds. "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."

The post resolves: "Our Country will finally be treated fairly, and our citizens Healthcare Costs will be reduced by numbers never even thought of before. Additionally, on top of everything else, the United States will save TRILLIONS OF DOLLARS. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!"

Trump already attempted to reduce drug prices during his first term as president, and more recently made some comments about targeting the pharmaceuticals industry last month.

Trump has previously addressed drug prices in the US (Bonnie Cash/UPI/Bloomberg via Getty Images)

In 2020, Trump released a series of executive orders which would have only applied to drugs paid for my Medicare Part B and not Part D - impacting drugs administered by doctors opposed to those taken at home.

Pharmaceutical companies hit back at the time, and the orders were ultimately blocked by a federal judge.

At an event with the National Republican congressional committee last month, Trump insisted the tariffs he first unveiled on so-called 'Liberation Day' would incentivize drug companies to relocate to the US.

He said: "We’re going to tariff our pharmaceuticals and once we do that they’re going to come rushing back into our country because we’re the big market.

"So we’re going to be announcing very shortly a major tariff on pharmaceuticals and when they hear that, they will leave China, they will leave other places because they have to – most of their product is sold here and they’re going to be opening up their plants all over our country."

The POTUS had also stated previously: "The pharmaceutical companies are going to come roaring back. … because if they don't, they've got a big tax to pay."