In his first major action on health care costs this term, President Donald Trump issued a multi-part executive order on Tuesday aimed at lowering drug prices and reducing costs for Medicare. The move comes as his administration seeks to impose tariffs on pharmaceutical imports that many experts have said could lead to drug shortages and price hikes.

It's unclear whether tariffs will influence more companies to make more drugs in the U.S. like President Donald Trump is hoping for, some experts said.

President Donald Trump wants Congress to change a policy that gives certain drugs longer protection from drug price negotiations in Medicare, a fix that could address one of the drug industry’s top complaints with the Biden-era law.