Investor and television personality Kevin O'Leary praised President Trump's regulation policy on Tuesday, saying he gives the president high marks on reducing government regulations.

"I would say on a policy basis, I'm going to have to give it an 8 1/2 out of ten so far," O'Leary, an entrepreneur who appears on ABC's "Shark Tank," told Hill.TV's Buck Sexton on "Rising."

"The reduction of regulations has been remarkable in how it has accelerated small business," he said. "These things are quietly being changed, and I really - I credit the administration for doing this. They're making it easier to run a small business in pretty well every state I'm involved in. So that's working."

"I do a lot of investing in private companies all across America," O'Leary added, noting that his investment portfolio includes more than 34 firms. "We're having one of the best years we've ever had - not because of tax reform yet, that's coming, that's the upside in the next year or so."

Trump signed an executive order within the first month of his presidency aimed at dramatically scaling back federal regulations. He said the order, which requires agencies to revoke two regulations for every new rule they want to issue, would benefit both small and large businesses.

Critics said the policy would contribute to the weakening of public protections provided by agency rules and regulations.

- Julia Manchester