After failing to repeal the reforms outright, Trump issued an executive order that would strip back some restrictions on the coverage insurers can offer.
Trump said the measure would "increase competition, increase choice" and would impact millions.
"This will cost the United States government virtually nothing, and people will have great, great health care. And when I say people, I mean by the millions and millions," he said.
Democrats said the move amounted to "sabotaging the system" by creating a race to the bottom.
While Obamacare brought millions more Americans health care coverage, Republicans argue it represents government meddling in the market.
Disclaimer: No Business Standard Journalist was involved in creation of this content