President Donald Trump claimed that he had cut deals that would reduce drug prices by "300% or more."
After speaking to military leaders on Tuesday, reporters asked Trump about an upcoming announcement about an agreement with pharmaceutical maker Pfizer.
"I think it's one of the biggest things that we'll do," the president said. "We'll be reducing drug prices by 100% in some cases, 300% or more."
According to CNBC, the deal provides Pfizer with a three-year suspension of planned tariffs if the company builds manufacturing plants in the U.S.
Trump was expected to announce the deal during an Oval Office event on Tuesday.