Factbox: Obama seeks to mend rift with U.S. business

(Reuters) - President Barack Obama, seeking to fix a rocky relationship with the U.S. business community, pledged on Monday to overhaul a "burdensome" corporate tax code and to work with companies to bolster the economy.

Obama's speech to the U.S. Chamber of Commerce, a major business lobby, was the latest in his series of overtures to corporate America. Below are other steps he has taken to reach out:

* Obama hired William Daley, a former JPMorgan Chase executive, as White House chief of staff.

* He also chose Jeffrey Immelt, chief executive of General Electric Co., to head an outside panel of experts providing economic advice to the White House. Immelt replaced former Federal Reserve Chairman Paul Volcker.

* Despite campaigning in 2008 on a pledge to end President George W. Bush's tax cuts on the wealthy, Obama struck a deal to temporarily extend those and other tax breaks. The deal also included a payroll tax holiday and some breaks to encourage business investment.

* Obama ordered a review of U.S. regulations to try to blunt criticism from business groups that accuse him of favoring too heavy a hand in his regulatory approach.

* He has talked of reinvigorating the U.S. trade agenda and pledged to put a priority this year on seeking congressional ratification of a trade pact with South Korea.

* Obama has floated the possibility of an overhaul of the corporate tax code, something many businesses support. Such an overhaul could result in a lowering of the 35 percent corporate tax rate in exchange for closing loopholes. But Obama has offered few specifics and any deal would likely require intensive negotiations with the U.S. Congress.

(Reporting by Caren Bohan; Editing by Philip Barbara)