According to the timeline laid out in President Donald Trump’s May 12 executive order, prescription drug price reductions would not happen "almost immediately." The order specifies a 30-day period to develop pricing targets for drugmakers,

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.