U.S. President Donald Trump signed an executive order on Monday to reduce drug prices in the United States by between 30% and 80% with the aim of equalizing global prices.

Trump said his executive order on pharmaceutical drug prices would mean that Europeans will have “to pay more for health care, and we’re going to have to pay less.” The U.S. has a separate negotiating period on trade in which goods from the EU are being charged 10% import taxes.