President Donald Trump has signed a sweeping executive order setting a 30-day deadline for drugmakers to lower the cost of prescription drugs in the U.S.

European governments are examining whether U.S. President Donald Trump can force them to pay more for prescription medicines, after he issued an executive order to lower U.S. drug prices, roiling the global pharmaceutical industry.

As in negotiations with foreign nations, minor concessions by drug companies are more likely than a true overhaul.

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.

PhRMA, which gave $1 million to Trump's inaugural fund, warned against parts of Trump's drug pricing executive order.