ISTANBUL

US President Donald Trump signed an executive order Wednesday aimed at reducing regulations in the commercial space industry.

Trump’s order directs the transportation secretary to speed up or remove environmental reviews for launch and reentry licenses and permits, the White House said in a statement.

The order also directs a review of current regulatory requirements with the aim of eliminating outdated, redundant or overly restrictive rules related to launch and reentry vehicles.

It further assigns the commerce secretary in coordination with the Departments of Defense and Transportation as well as NASA to assess compliance with the Coastal Zone Management Act and its implications for spaceport development.

“Inefficient permitting processes discourage investment and innovation, limiting the ability of U.S. companies to lead in global space markets,” it said.

It warned that complex environmental and licensing rules slow down commercial space launches and create disadvantages for emerging companies that cannot afford high compliance costs.

The order also elevated the Office of Space Commerce to report directly to Commerce Secretary Howard Lutnick, aiming to boost the focus on commercial space efforts.

Additionally, it called for a “streamlined process for authorizing novel space activities” that are not covered by existing regulations.