Trump ordered to reduce regulation of the economy

The US President Donald trump has signed an Executive order that will weaken regulation at the Federal level. Releasing each new prescription, the Federal Agency will need to cancel the previous two. About it reports Reuters.

“It will be the strongest action that saw our country. There will be regulation and control, but this control will be put in order,” said trump, signing a document in the oval office during a meeting with representatives of small business.

According to the decree of the Federal Agency will make proposals as to what provisions should be repealed. The white house will evaluate them. The decree also determines how much it will cost the economy the introduction of new regulations. In the 2017 financial year, which will end only in September, this budget is $0.

During the meeting, trump also identified several areas requiring regulation. For example, he noted the need for changes in the Dodd — Frank financial reform passed in 2010.

During the presidential race, trump has repeatedly promised to abandon normative legal acts hindering the development of the U.S. economy. In addition, during the campaign he also spoke of the need to prevent companies transferring production to other countries. To do this, trump has proposed to reduce taxes and reduce regulation.

Billionaire Donald trump won the presidential elections held on 8 November 2016. He officially became the 45th President of the United States January 20, when took place the inauguration ceremony.