First of all, speeches aren't policy. It's just him bloviating. That's not serious.

Secondly, of course slashing regulations is part of this. That's what he means by red tape. In effect that always means having less eyes and oversight on projects to speed them along. That has always and will always lead to cutting corners again and again until everything falls apart. Deregulation is a farce. It's just more work in the long run.