We can cut regulations by 75 percent, Donald Trump tells company executives

The US president also reiterated his pledge to impose a hefty border tax on companies that want to import products to the United States after moving American manufacturing facilities abroad.

US President Donald Trump on Monday told leaders of companies, ranging from defense manufacturer Lockheed Martin Corp to sportswear apparel maker Under Armour Inc, that he believed his administration could cut US regulations governing companies by 75% or more.

US President Donald Trump. (AP photo)

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In a meeting with about 10 senior executives at the White House, Trump also reiterated his pledge to impose a hefty border tax on companies that want to import products to the United States after moving American manufacturing facilities abroad.

But, he added, those that want to set up factories in the United States will see quick approvals to build.