Jan. 23 (UPI) -- President Donald Trump, meeting with business leaders, said he will roll back regulations and impose a tax on companies moving jobs outside the United States.
At a breakfast meeting with manufacturing CEOs, he repeated his campaign pledge that he would cut federal regulations up to 75 percent "or maybe more," saying they have "gotten out of control." The remaining regulations, he said, will be "just as protective of the people." Trump also said a "very major" tax will be imposed on products made by U.S. companies in other countries. He added he intends to reduce business taxes "down to anywhere from 15 to 20 percent." The corporate tax rate in the United States currently stands at 35 percent.