Trump to company executives: We think we can cut regulations by 75%

Trump reiterated his pledge to impose a hefty border tax on companies, who import products to the US

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

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.