President Donald Trump has signed a sweeping executive order setting a 30-day deadline for drugmakers to lower the cost of prescription drugs in the U.S.

The new pricing policy seeks to reduce the cost the government pays for medications to those comparable to what other countries pay.

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.

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