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U.S. President Donald Trump has signed a new executive order to make it easier for Americans to buy very affordable health care insurance plans and also bypass Obamacare.

After experiencing two failed attempts in Congress to repeal the bill, Trump has issued this executive order with the sole aim of eventually forcing it through congress and replace Obama's Affordable Care Act (Obamacare) even though there are likely to be legal challenges ahead.

"We've been hearing about the disaster of Obamacare for so long", as well as the need to repeal it, Mr Trump said at the White House alongside Republican Senator Rand Paul, Vice President Mike Pence and a couple other members of Congress. "We're starting that process and we're starting it in a very positive manner."

The President maintained that he will still pressure Congress to repeal and replace Obamacare. But through his order, he said, his administration is aiming to "allow more small businesses to form associations to buy affordable and competitive health insurance." 

"This would open up additional options for employers to purchase the health plans their workers want," he said. 

"This will create tremendous competition and transformative – in so many ways – change aimed at creating more and lower prices for millions of Americans," Trump touted on Thursday.