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Monday, January 23, 2017

Trump to 'massively' cut taxes and regulation

President Donald Trump has pledged to "massively" cut regulations and taxes on companies that keep jobs in the US.
After meeting business leaders, Mr Trump also warned them he would impose a "very major border tax" on companies that move manufacturing out of the US.
The remarks came on the first weekday of his White House after a weekend of anti-Trump protests and a media row.
The president is expected to sign a series of executive orders and meet congressional leaders on Monday.
"We're going to be cutting regulation massively", but the rules will be "just as protective of the people", he told reporters after the morning meeting in the White House's Roosevelt Room.
He pledged to lower corporate taxes to 15% or 20% from the current 35% and lift regulations by up to 75%.
Since winning the White House, Mr Trump has upbraided US companies that have moved factories overseas.
Vowing to slap taxes on foreign-manufactured products, he told executives on Monday: "All you have to do is stay."
His comments followed a meeting with executives from companies including defence manufacturer Lockheed Martin, apparel maker Under Armour, appliance manufacturer Whirlpool, electric-carmaker Tesla and pharmaceutical giant Johnson & Johnson.
"Busy week planned with a heavy focus on jobs and national security," Mr Trump said in a tweet early on Monday.
According to his schedule, the president will meet labour leaders in the afternoon.
It is not clear what executive orders he might sign, but on Sunday his administration said it was pondering topics ranging from immigration to Israel and the economy, including a possible overhaul of the North American Free Trade Agreement.
Mr Trump has blamed the trade pact with Mexico and Canada for depriving American workers of their jobs.
US media reports Mr Trump will sign an executive action to withdraw from the 12-nation Trans-Pacific Partnership trade deal, which was a linchpin of Mr Obama's pivot to Asia.
Mr Trump told Fox News last week that "Monday is really the day that we start signing and working and making great deals for the country".
The US Senate will meanwhile vote on the nomination of Mike Pompeo to be CIA director.
Rex Tillerson's nomination as Secretary of State was effectively assured on Monday as Senator Marco Rubio dropped his objections.
On Sunday, Mr Trump spoke by telephone with Israel Prime Minister Benjamin Netanyahu from the White House situation room.
Mr Trump said his conversation with Mr Netanyahu - who had a tense relationship with Mr Obama - was "very nice".
A White House summary of the call did not mention Mr Trump's plan to move the US embassy in Israel from Tel Aviv to Jerusalem, which would overturn two decades of US policy.
The Jerusalem Embassy Act of 1995 requires the US president to transfer the embassy to Jerusalem unless he certifies every six months that it is not in the national interest
Every president since Bill Clinton has upheld the measure, and President Obama most recently did so on 1 December.
Mr Trump has until May to make a formal decision.
White House press secretary Sean Spicer said the administration was "at the very beginning stages of even discussing this subject".
On Saturday, Mr Trump launched a stinging attack on media reporting of attendance figures and the weather at his inauguration.
During a heated exchange on NBC on Sunday, his senior adviser Kellyanne Conway said the White House had "alternative facts", a phrase that quickly went viral.
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