President Donald Trump's new health care initiative aims to reduce prescription drug costs by targeting pharmacy benefit managers, commonly known as PBMs.

Toward the end of his first Administration, Trump signed a similar Executive Order aimed at lowering the prices of some drugs administered in doctor’s offices; that move was blocked by a court order.

Kennedy Jr. During which, he shared a viral anecdote about his friend getting drugs cheaper abroad, illustrating how high drug prices are in the U.S.: nearly three times higher than 33 comparison countries,

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

Live updates and the latest news as the U.S. and China pause tariffs and Trump signs an executive order aimed at lowering drug prices.