Trump signs executive order to cut regulations

U.S. President Donald Trump on Friday signed an executive order aimed at cutting regulations that he said were "punishing companies."

The executive order, titled Enforcing the Regulatory Reform Agenda, directed that each government agency shall establish a regulation reform officer and a regulatory reform task force within 60 days to carry out regulatory reforms.

"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," Trump said after signing the document.

"We will stop punishing companies for doing business in the United States. It's going to be absolutely just the opposite," he said.

Trump ran on a platform that called for deregulating the market. He has previously taken an executive action that requested two old regulations be scrapped for every new rule put into place.

Trump has so far signed 13 executive actions, many of which are about shedding government regulations or boosting national security. Endi