President Trump on Friday signed an executive order to establish a task force that will identify regulations that are burdensome to U.S. companies.

The directive is expected to have a significant impact on the regulatory landscape.

The order calls for every federal agency to put regulatory reform officers on the job within 60 days. Those officers must report on their progress within 90 days. Each task force must recommend regulations that should be repealed or simplified because they impose costs that exceed benefits or inhibit job creations.

"Excessive regulation is killing jobs, driving companies out of our country like never before," Trump said. Representatives of U.S. Steel Corp., Dow Chemical and Lockheed Martin were on hand for the signing ceremony.

Reactions to Trump’s anti-regulatory agenda – which includes the controversial “one in, two out” executive order – have been divided.

The U.S. Chamber of Commerce U.S. Chamber of Commerce has praised Trump for weakening the “regulatory state.”

Scott Slesinger, legislative director at the Natural Resources Defense Council environmental group, said Trump’s latest order will “kill the safeguards Americans depend on for clean air, drinkable water and safe food."