President Donald Trump spoke exclusively to CNBC's Joe Kernen in the run-up to his speech Friday at the World Economic Forum in Davos, Switzerland. Trump's key pitch to global political and business leaders is that America is open to their business, but on "America first" terms. The president has been talking up the effects of recently implemented tax cuts, including a big reduction in the corporate tax rate, but he also claims that cuts in regulations has also helped U.S. economic policy.

Here, Trump talks about what he considers the impact of reduced regulations on U.S. gross domestic product:

OK. Now, in my first quarter, which I consider to be the second quarter because I was there now long enough to have made an impact and don't kid yourself, regulations are just as big as the tax cuts. I've cut more regulations than any president in history and I've been here for one year. You can take their term whether it's eight years or 16 years in one instance — but you can take anybody you want, in one year, we've cut more regulations. And by the way, there's going to be regulation but they're good, solid, sane regulations. But in quarter two, we had 3.1, and in quarter three, as you know, we had 3.2. But in quarter one, which is the Obama quarter — really the last, I would say, Obama quarter, you had 1.2. We were going in the wrong direction.

Here, the president talks about how he sees his regulatory approach enticing companies to bring business to the U.S.