President Donald Trump said he plans to order a cut in US prescription drug costs to bring them in line with other countries, spurring a drop in pharmaceutical shares worldwide.

U.S. stocks climbed Monday after Treasury Secretary Bessent touted substantial progress on talks with the Chinese setting up a busy week of trade talks as President Trump heads to the Middle East. In economic and earnings news,

President Donald Trump on Monday revived a plan to tie prescription drug prices in the U.S. to what other nations pay for medicines. The executive order, which was first reported by POLITICO, still leaves many questions about how the administration will implement a so-called “most-favored nation” policy.