5 highlights from Trump's year-end address

4. Announces new initiatives to lower healthcare costs

Trump highlighted his efforts to “dramatically reduce the price of prescription drugs," and told the American people that his administration "negotiated directly with the drug companies and foreign nations, which were taking advantage of our country for many decades.”

After claiming his efforts reduced prices for drugs and pharmaceuticals by up to 600%, Trump said he used “the threat of tariffs to get foreign countries who would never have done it to pay the cost of this giant dollar reduction.”

He unveiled a forthcoming website, TrumpRX.gov, which he said will enable Americans to take advantage of “these unprecedented price reductions” beginning in January. 

Although he did not provide specifics, Trump said he is also “taking on the gigantic health insurance companies that have gotten rich on billions of dollars of money that should go directly to the people” so they can “buy their own health insurance, which will give far better benefits at much lower cost.”

He derided the Affordable Care Act as the “Unaffordable Care Act” and contended that the legislation was “created to make insurance companies rich.”