During a Monday morning meeting with business leaders, President Donald Trump said that he plans on cutting taxes for the middle class and companies.
The President also said that he would like to reduce regulations on companies in the United States and impose a tax on American companies that build products abroad and then sell them in the U.S.
Trump began his address to the business leaders in the room by touting his success at keeping jobs in the U.S. and telling attendees that he wants to incentivize companies to make products in America.
“We don’t want to bring them in, we want to make them here. And that doesn’t mean we don’t trade ‘cause we do trade. But we want to make our products here,” he said. “It’s going to be a wave. You watch. It’s going to be a wave.”
Trump said that he would reduce taxes on the middle class and companies down to 15 or 20 percent, but that a “bigger thing” will be reducing regulations by 75 percent.
“Now we’re 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. The problem with the regulation that we have right now is you can’t do anything,” he said at the meeting.
Trump said that he is a “big person when it comes to the environment” but hinted that his administration will look to eliminate some regulations aimed at protecting the environment.
“I’ve received awards on the environment. But some of that stuff makes it impossible to get anything built,” the President said.
He also told the CEOs gathered in the room that the U.S. will expedite the approval process for companies looking to build new factories.
Present at the meeting were Michael Dell of Dell Technologies, Jeff Fettig of Whirlpool, Mark Fields of Ford Motor Company, Alex Gorsky of Johnson & Johnson, Marillyn Hewson of Lockheed Martin, Klaus Kleinfeld of Arconic, Andrew N. Liveris of Dow Chemical, Mario Longhi of U.S. Steel, Elon R. Musk, of SpaceX, Kevin Plank of Under Armour, Mark S. Sutton of International Paper, and Wendell P. Weeks of Corning.