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Trump to Business Leaders: We Can Cut Regulations 75%… “Maybe More”

posted by Breanna Khorrami 0 comments
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On Monday, President Donald Trump told business leaders that he firmly believes that his administration can cut regulations by 75% or “maybe more.”

In a meeting at the White House with 10 senior executives, Trump reiterated his pledges to roll back regulations in place on businesses that he thinks have “gotten out of control.”

In the meeting with reporters and business leaders, including Tesla Motors CEO Elon Musk and Under Armor CEO Kevin Plank, Trump emphasized that his move to cut regulations will not only benefit corporations, but also remain protective of the American people.

He explained,

“We’re going to be cutting regulation massively,” but the rules will be “just as protective of the people.”

President Trump claimed that he is trying to get the business tax rate “down to anywhere from 15 to 20 percent” from the current 35 percent rate. He also explained that he wants to reward companies that manufacture in America, while imposing border taxes on those that produce goods abroad.
The President’s statements came ahead of an executive order to begin revising the North American Free Trade Agreement (NAFTA)  and pulling out of the Trans-Pacific Partnership (TPP).

“What we want to do is bring manufacturing back to our country … That doesn’t mean we don’t trade because we do trade. We want to make our products here.”

Watch footage of Trump’s meeting with business leaders here:

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