U.S. President Donald Trump signed an executive order Monday meant to lessen federal regulations on small businesses, a move that is in line with his campaign promise to cut red tape in Washington. For every new regulation established, Trump's executive order requires federal agencies to identify two existing regulations that can be cut. Trump told reporters that the executive order was aimed at "cutting regulations massively for small business," although the order itself does not specifically mention small business. In a September 2016 address to the New York Economic Club, Donald Trump denounced government regulations on business as "a massive, job-killing industry." One week ago, Trump told a group of U.S. CEOs that he planned to reduce business regulations by 75 per cent.

Source: CBC News January 30, 2017 16:16 UTC