US President Donald Trump announced the launch of a federal website Thursday for prescription drugs, saying Americans will pay “the world’s lowest prices.”

Speaking at the White House, Trump said that starting Thursday, dozens of commonly used prescription drugs will be available at “dramatic discounts” through TrumpRx.gov.

Under the plan, the US will adopt a “most-favored-nation” pricing model, matching the lowest price paid by any other country.

“We’re taking the lowest price paid for drugs, and we will pay equal to whatever the lowest price anywhere in the world,” Trump said, calling the move a “tremendous reduction” for US consumers.

“Drug prices in other nations will go up by doing this, they had to agree. And the reason they agreed is I used tariffs. I said, ‘If you don't put them up, then we're going to put tariffs on your nation, which will be more expensive to you’,” he said.

He added that popular weight-loss medications known as GLP-1 drugs would see major price cuts, citing Novo Nordisk’s Ozempic as an example.

Dr. Mehmet Oz, administrator of the Centers for Medicare & Medicaid Services (CMS), who also spoke at the event, said the initiative would protect vulnerable Americans from unaffordable medication costs. (Anadolu Agency)