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U.S. President Donald Trump told leaders of companies ranging from defence manufacturer Lockheed Martin Corp to sportswear apparel maker Under Armour Inc. on Monday that he believed his administration could cut U.S. regulations governing companies by 75 percent or more.
In a meeting with about 10 senior executives at the White House, Trump also reiterated his pledge to impose a hefty border tax on companies that want to import products to the United States after moving American manufacturing facilities abroad. But, he added, those that want to set up factories in the United States will see quick approvals to build.
Before taking office, Trump hosted a number of U.S. CEOs in meetings in New York, including business leaders from defense, technology and other sectors. He also met with leaders of several unions, including the AFL-CIO.
Trump, a real estate developer, has particularly focused on manufacturing, lamenting during his inaugural address on Friday about "rusted-out factories scattered like tombstones across the landscape of our nation" and vowing to boost U.S. industries over foreign ones.