Trump has signed a decree providing sharp reduction of regulation in the United States

The US President Donald trump on Monday signed a decree designed to dramatically reduce the number of Federal legal acts, having thus, implementation of the mitigation plan of regulation, they claimed during the election campaign. About this newspaper The Wall Street Journal.

In accordance with the signed trump decree, the adoption of new regulatory provisions would require the abolition of the two existing ones. The Federal Agency will make proposals as to what provisions could be abolished, and the White house will evaluate these proposals, representatives of the presidential administration.

Trump during election campaign promised to abandon normative legal acts hindering the development of the American economy. It’s a promise he reiterated during the meeting with representatives of the largest companies in the U.S., held earlier this month.

The first decree within the framework of the reduction measures regulation was signed by trump during the meeting with representatives of small business.

The U.S. President noted that this step will be the largest ever reduction in regulation.

“We don’t need 97 different rules for the same element. Will the regulation will control, however, it will be normalized control,” said trump.

He signed the decree also determines how much it will cost the economy the introduction of new regulations. For the 2017 financial year ending in September, this budget is equal to $ 0.

During the meeting with representatives of small business on Monday, trump has identified a number of areas which, in his opinion, require changes to regulation.

In particular, he noted the need for changes in the Dodd-Frank financial reform passed in 2010.

“Dodd-Frank is a disaster,” said trump, noting the readiness to take drastic measures against this law.