Donald Trump has threatened to use “every tool in our arsenal” to crack down on pharmaceutical giants if they fail to cut drug prices for Americans within 60 days.

The president wrote to executives at 17 companies on Thursday, demanding they match their US prices for prescription drugs with the lowest price offered in other developed nations.

Current prices are an “unacceptable burden” on US families, Trump said, claiming they could be up to three times higher than in other countries.

After returning to the White House earlier this year and pledging to bring down drug prices, the president claimed that “most proposals” from the pharmaceutical industry amounted to “more of the