President Donald Trump compared regulations on American businesses to a type of stealth regulation.
Government regulations and rules are like “stealth taxation,” Trump told attendees Friday at this year’s World Economic Forum in Davos, Switzerland. His comments cap off a week-long discussion about climate change and global business relations.
The president also noted during a question and answer form that he devoted much of his time during the 2016 election to eliminating regulations he considered “suffocating.”
— Reuters Davos (@Reuters_Davos) January 26, 2018
“In one year we have cut more regulations than any other administration,” Trump added, noting that they are important, but that they need to be streamlined and winnowed down.
He greeted several business leaders at the conference during a dinner. European companies like Adidas, Siemens and Bayer went around the table to thank Trump for the passage of tax cuts and the easing of corporate tax burdens. Almost every CEO had a new US-based investment or strategic business to announce.
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