President-elect Donald Trump’s likely attempts at boosting U.S. growth through policies like deregulation and corporate tax cuts may not be as effective as the market rally seems to suggest, Chantico Global CEO Gina Sanchez told CNBC on Friday.

While apparently “business-friendly” initiatives could help smaller firms, companies already pay lower corporate taxes through deductions and credits than the official rate, so slashing taxes there could make very little difference in the status quo, Sanchez told “Squawk Box.”