LONDON (ShareCast) - (ShareCast News) - US President Donald Trump has met with the CEOs of several large US companies, telling the likes of Elon Musk and Mark Fields that regulations for companies will be cut "massively" during his term.
In a White House meeting with the chief executives of Tesla, Ford and Lockheed Martin among others, Trump also vowed to reduce taxes for big businesses from its current level of 35% to anywhere between 15% and 20%.

"We think we can cut regulations by 75%, maybe more," Trump told the CEOs.

During his successful run to the Oval Office, the Republican consistently called for a high border tax for companies which import products into the US, promising to bring vast numbers of jobs to the country.

"We're going to be cutting regulation massively," he said, but stressed that any new rules will be "just as protective of the people".

"The problem with the regulation that we have right now is you can't do anything. I have people that tell me they have more people working on their regulations than they have doing product, and it's out of control."

Trump added that the stripping back of regulations would have minimal effect on the environment, claiming that he is a very "big person" for the issue, despite previously claiming that climate change was a "hoax" perpetrated by Chinese authorities.

"I'm a very big person when it comes to the environment, I've received awards on the environment but some of that stuff makes it impossible for things to get built," Trump told the meeting.

The new president has been busy on his first few days in office, signing executive orders to renegotiate the NAFTA and TPP trade deals, as well as a private meeting with House Speaker Paul Ryan and a reception with other congressional leaders.

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