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's effort to reduce prices of prescription drugs amounts to price control since it’s not limited to just government programs, according to one expert.

President Trump will hold a press conference Monday morning with Health and Human Services Secretary Robert F. Kennedy Jr. to announce an executive order to cap prescription drug and pharmaceutical prices at the lowest cost offered in any other country.

PhRMA, which gave $1 million to Trump's inaugural fund, warned against parts of Trump's drug pricing executive order.