Trump to unveil Medicare drug pricing plan after teasing "earth-shattering" announcement

The big announcement that President Trump teased earlier this week in the Oval Office is a "most favored nation" plan to cut Medicare drug prices, sources told CBS News.

The Trump administration previously sought to implement the "most favored nation" idea during Mr. Trump's first term, tying some high-cost Medicare drugs administered by health care providers to "the lowest price that drug manufacturers receive in other countries."

Trump said in the Oval Office on Tuesday that in the coming days, he'd reveal "a truly earth-shattering and positive development for this country and for the people of this country."