The U.S. pays about three times more than other nations for drugs, and Trump's wide-reaching executive order directs pharmaceutical companies to charge similar prices in the U.S. and Europe. The order says its health department will establish a mechanism for patients to buy more drugs directly from manufacturers.

President Donald Trump signed a sweeping executive order Monday morning that promises to crack down on “unreasonable or discriminatory” practices by foreign countries that result in Americans paying far higher costs for prescription drugs.