WASHINGTON: President Donald Trump signed an executive order on Friday aimed at repealing or simplifying federal regulations.

The order, signed by Trump in the Oval Office with chief executives of major U.S. corporations standing behind him, directs each federal agency to establish a regulatory reform task force to ensure every agency has a team to research all regulations and take aim at those deemed burdensome to the U.S. economy.

Each task force will make recommendations on which regulations to repeal or simplify, Trump said.