Economy Donald Trump seeks to shrink Cabinet agency budgets by 5% Updated : October 17, 2018 11:12 PM IST Trump said he would consider exemptions, although he did not specify what those would be. The Trump administration has indeed slashed regulations since taking office last year. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.