President Trump was apparently 'surprised' by his own plan to cut regulations

President Trump admitted Monday at a White House meeting with business leaders that he was "surprised" by his administration's plans to cut regulations. "A bigger thing, and that surprised me, is the fact that we are going to be cutting regulation massively. Now we are going to have regulation and it will be just as strong and just as good and just as protective of the people as the regulation we have right now," Trump told executives from companies including Dell, Lockheed Martin, Ford, Johnson & Johnson, and SpaceX, among others. "The problem with the regulation you have right now is that you can't do anything."
Trump indicated his administration plans to slash regulations "by 75 percent" or "maybe more." Trump also noted his plans to cut taxes "massively for both the middle class and for companies" by an estimated 15 or 20 percent, and reiterated that any company that moves abroad will face "a very major border tax."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
The Miami Showband massacre, 50 years on
The Explainer Unanswered questions remain over Troubles terror attack that killed three members of one of Ireland's most popular music acts
-
Tea app hack: user data stolen from women's dating safety app
In The Spotlight Data leak has led to fears users could be targeted by men angered by the app's premise
-
The Assassin: action-packed caper is 'terrific fun'
The Week Recommends Keeley Hawes stars as a former hitwoman drawn out of retirement for 'one last job'
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement