US President Donald Trump today signed an executive order directing various wings of his administration to establish a regulatory reform task force in a bid to remove "job-killing regulations" and "unleash economic opportunity".
"Today, this executive order directs each agency to establish a regulatory reform task force which will insure that every agency has a team of dedicated people to research all regulations that are unnecessary burdens and harmful to the economy and therefore harmful to the creation of jobs and business. Each task force will make recommendations to repeal and or simplify existing regulations," Trump said.
Noting that the current regulations make it tough for the companies to do business, Trump assured companies of resolving this issue quickly.
He signed a series of executive orders to make the US a business-friendly destination.
"This executive order is one of many ways we're going to get real results when it comes to removing job-killing regulations and unleashing economic opportunity," he said.
Trump has already issued an order which says that for every one new regulation, two old regulations must be eliminated.
"So that in itself is going to be tremendous, but what we're doing is much more than even that. Every regulation should have to pass a simple test; does it make life better or safer for American workers or consumers? If the answer is no, we will be getting rid of it and getting rid of it quickly," he said.
The US President said his administration will stop punishing companies for doing business in the United States.
"It's going to be absolutely just the opposite. They're gonna be incentivised for doing business in the United States," he said.
"We're working very hard to roll back the regulatory burden so that coal miners, factory workers, small business owners and so many others can grow their businesses and thrive.
"We cannot allow government to be an obstacle to government opportunity. We are going to bring back jobs and create more opportunities to prosper maybe more than ever before in our country," Trump said.
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