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... US President Donald Trump signed an executive order on Wednesday to streamline federal regulation governing commercial rocket launches, a move that could benefit billionaire Elon Musk's SpaceX and other private space ventures.

Trump's order, among other things, directs the US transportation secretary to eliminate or expedite environmental reviews for launch licenses administered by the Federal Aviation Administration (FAA), the White House said in a statement.

The declaration also calls on the secretary to do away with "outdated, redundant or overly restrictive rules for launch and reentry vehicles".

"Inefficient permitting processes discourage investment and innovation, limiting the ability of US companies to lead in global space markets," the executive order states. ...