Trump Signs Executive Order on Ticket Scalping, Fees for Live Entertainment

3:50 PM PT -- President Trump just signed the executive order ... with Kid Rock standing by to offer moral support and further clarification for the cameras about the issue.

Kid Rock was dressed in what some might call an extravagantly patriotic red outfit, with white and blue stars, stripes and some eagle wings, and a bandana-wrapped fedora ... a sharp contrast to Volodomyr Zelensky's muted military 'fit, which VZ was called out for as being insufficiently respectful during his own recent official Oval Office visit.

President Trump is trying to tackle an important issue he raised on the campaign trail ... scalpers and expensive fees driving up ticket prices for live entertainment ... and he's got a new action he says will fix these issues.

Sources at the White House tell TMZ ... Trump is signing a presidential executive order today to end price-gouging by middlemen in the entertainment industry.

We're told Trump's latest EO will combat a bunch of issues folks encounter when trying to buy tickets to popular concerts and sporting events ... remember the headaches for the Taylor Swift "Eras" tour?!?

Our sources say Trump's EO directs the Federal Trade Commission to work with the U.S. Attorney General to ensure competition laws are being enforced, and to enforce the BOTS Act to stop scalpers from using bots to buy up all the inventory and re-sell tickets at a huge markup.

We're told Trump's also getting the Secretary of the Treasury and the Department of Justice involved ... to ensure ticket scalpers are following the law.

The White House says live entertainment is a $132.6 billion industry supporting almost a million jobs, and the Trump administration says the ticketing component has become rife with egregious fees and unscrupulous middlemen.

In fact, the White House says some fans are paying as much as 70x the face value for tickets ... money that goes into pockets of scalpers and ticket brokers.

Swifties aren't the only ones who have been hit hard ... scalpers also drove up prices for Coldplay, Pink, Luis Miguel, Bruce Springsteen, The Rolling Stones, Bad Bunny, Zach Bryan, Metallica and Madonna ... just to name a few.