By Trisha Thadani, San Francisco Chronicle Updated 11:06 am, Friday, February 24, 2017

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President Donald Trump flanked by business leaders signs executive order establishing regulatory reform officers and task forces in US agencies in the Oval Office of the White House on February 24, 2017 in Washington, DC. Earlier in the day, Trump stated he would cut 75 percent of regulations. Photo: Pool, Getty Images

Photo: Pool, Getty Images
IMAGE 1 OF 2 President Donald Trump flanked by business leaders signs executive order establishing regulatory reform officers and task forces in US agencies in the Oval Office of the White House on February 24, 2017 in … more

President Trump signed an executive order Friday that aims to curb “excessive” regulations that he says are driving businesses and jobs out of the country.
This order will direct each federal agency to establish a regulatory reform task force, which will recommend which regulations can be simplified or eliminated. The text of the order was not immediately released.
While he was signing the order, the president was flanked by multiple corporate CEOs, including Marillyn Hewson of Lockheed Martin, Gregory Hayesof United Technologies, and Mario Longhi of United States Steel, according to Bloomberg.
“Every regulation should have to pass a simple test: Does it make life better or safer for American workers or consumers? If the answer is no, we will be getting rid of it,” Trump said at an Oval Office signing ceremony Friday.