U.S. President Donald Trump has signed an executive order cutting regulations on businesses.
Trump held a closed door meeting at the White House with small business owners before the signing.
The president repeated his desire to cut business regulations by as much as 75 percent. He said it is his desire to make it as easy as possible to open businesses in the United States.
Surrounded by the small business owners for the signing, Trump said for every new federal regulation proposed, two must be revoked.
"If you have a regulation you want, number one, we are not going to approve it, because it has already been approved probably in 17 different forms, but if we do, the only way you have a chance is we have to knock out two regulations for every new regulation, so if there is a new regulation, they have to knock out two, but it goes far beyond that,” Trump said.
“We are cutting regulations massively for small business, and for large business, but they are different, but for small business. And that is what this is about today, and this will be the biggest such act that our country has ever seen," he added.