Here is a rundown of the key proposals unveiled on Friday.

Lower drug prices for older people

On the campaign trail, Mr. Trump embraced allowing Medicare to negotiate the price of the drugs it buys for older people, an issue traditionally supported by Democrats but long opposed by Republicans — and the powerful drug industry.

Friday’s proposal falls far short of that goal. But it does include some ideas for giving the government better leverage in negotiating with drug companies. It calls for exploring whether to allow Medicare drug plans to pay different amounts for the same drug, depending on the illness involved. And it would experiment with “value-based purchasing” in federal programs, essentially a money-back guarantee in which a drugmaker promises to refund money if a medication does not work as expected. Drug companies and insurers are increasingly entering into these kind of arrangements, although the evidence is far from clear that they lower costs.

The administration also reiterated earlier proposals: making generic drugs free for some low-income older people on Medicare and allowing people to keep a portion of the rebates that are normally pocketed by the insurers that manage the Medicare drug program.

Persuade other countries to pay more

One key proposal would involve pressuring other countries to raise their prices for prescription medicines. Drug prices in the United States are the highest in the world; many countries with centralized health care systems have successfully negotiated lower prices from pharmaceutical companies.

Mr. Trump, echoing the longstanding position of the drug industry, has said these companies are “free-riding” off the ingenuity of American corporations, and that high drug prices in the United States are subsidizing innovation that benefits the whole world.