President Donald Trump is expected to sign an executive order soon to lower the cost of prescription drugs for Medicare beneficiaries. The order would implement a “most favored nation” policy, tying the prices of certain Medicare-covered drugs to those paid by other developed countries.

President Trump will introduce a "most favored nation" plan aimed at cutting Medicare drug prices by linking them to the prices of medication abroad, sources told CBS News.

Trump wanted to advance the ‘most favored nation’ policy in his first term but faced resistance from industry and the courts.