US industry reactions mixed over Trump’s executive orders

The AFPM backs a move to reduce regulatory action, but has taken no stance on an immigration crackdown. US President Donald Trump signs an executive order on Monday in the Oval Office of the White House. ( REX/Shutterstock)

HOUSTON (ICIS)–Although petrochemical industry reaction is still developing over President Donald Trump’s executive order barring immigrants from seven Muslim nations, groups have favoured another move Monday to revise regulatory laws.

Trump signed an executive order Monday requiring that for every one new business regulation proposed, two existing rules must be revoked.

“Regulatory reform would be a tremendous boost to our economy,” American Fuel & Petrochemical Manufacturers (AFPM) CEO Chet Thompson told ICIS on Monday. “Although we don’t know the details of this executive order and how it will be carried out, America’s energy producers have been stifled for far too long with a large regulatory burden, and today’s action demonstrates that President Trump understands that change is needed.”

The latest executive order followed Friday’s action on “protecting the nation from foreign terrorist entry” which bans nationals of Iraq, Syria, Iran, Libya, Somalia, Sudan and Yemen from entering the US for at least the next 90 days, excluding foreign nationals traveling on diplomatic visas. The order also suspended the entry of refugees into the US.

Though industry reaction is muted for the entry ban, the action on deregulation has been seen as favourable.

The American Chemistry Council (ACC) and other industry groups did not issue public statements on the most recent orders as of Monday, though most have supported Trump’s first week of executive actions. The American Petroleum Institute (API) could not be reached for immediate comment.

The US  National Association of Manufacturers (NAM) showed support earlier in January for Trump’s executive orders on the Keystone XL and Dakota Access pipeline projects, as did American Petroleum Institute (API) CEO Jack Gerard.

Among world leaders, representatives of the barred Middle East countries unanimously criticised Trump for the decision, while European and other world leaders voiced similar disapproval.

Source: Twitter

US automaker Ford sent an email to its employees Monday also criticising the immigration ban.

Industry respondents of the most recent National Association of Business Economics (NABE) survey revealed mixed sentiment towards Trump’s proposals.