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Commerce Department to release report on manufacturing regulation early next week

Senior administration officials told CNBC the Commerce Department will release its first report on "streamlining permitting and reducing regulatory burdens for domestic manufacturing" early next week.

President Donald Trump commissioned Commerce Secretary Wilbur Ross in a presidential memorandum on January 24 to review all manufacturing regulations.

Wilbur Ross, U.S. Secretary of Commerce.
Katie Kramer | CNBC
Wilbur Ross, U.S. Secretary of Commerce.

For 60 days, the Commerce Department asked for comments from the public and from manufacturers on the impact of federal regulations on manufacturing. Once the comments were reviewed, Ross would have an additional 60 days to submit a report to the president presenting a plan to streamline the federal permitting processes for domestic manufacturing and to specify regulations the department believes are a burden impacting domestic manufacturers.

The report would also recommend deadlines for completing actions and any changes to existing regulations or statutes. Ross could also highlight any suggested actions that could be taken immediately to change policies, practices, or procedures.

According to the memorandum, Ross is required to publish the report in the federal register.