WASHINGTON --President Donald Trump has signed into a law a measure to kill some federal rules under the Dodd-Frank Act.
The rules, which are aimed at energy and mining companies, require such organizations to disclose their payments to foreign governments.
Industry leaders said it made it harder for them to compete against oil companies in other countries who didn't have to abide by such rules.
The president said repealing the rules would be good for jobs and the industry.
"We're bringing back jobs big league. We're bringing them back at the plant level. We're bringing them back at the mine level. The energy jobs are coming back," commented Trump.
"You see what's going on with the stock market. They know that we know what we're doing, so it's going up at record clips," he continued.
Proponents of the rule say it was put in place to require transparency from big oil companies and help fight corruption.
"The rule they're trying to repeal protects U.S. citizens and investors from having millions of their dollars vanish into the pockets of corrupt foreign oligarchs," said Sen. Sherrod Brown, D-Ohio.
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