(CNBC) - President Donald Trump on Tuesday will announce an agreement with Pfizer to voluntarily sell its medications for less, as his administration pushes to link U.S. drug prices to cheaper ones abroad.

Trump will announce a drug pricing deal with Pfizer at 11 a.m. ET, a White House official told CNBC’s Eamon Javers. Pfizer CEO Albert Bourla will be in attendance, the official said.

The agreement involves discounted prices in Medicaid and a three-year reprieve on planned pharmaceutical tariffs as long as the company is building manufacturing plants in the U.S., a source told CNBC’s Angelica Peebles.

The deal comes as Pfizer and 16 other drugmakers face Trump’s Monday deadline to take steps to lower drug prices, as outlined in letters from the president.

Pfizer did not im

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