U.S. President Donald Trump has lifted the legal restriction, allowing American companies to bribe abroad to secure contracts. After signing the executive order, bribery in foreign countries will no longer be considered a crime.
According to a report, President Donald Trump signed the executive order on Monday. Some media reports indicate that the president has officially permitted American citizens to bribe foreign governments to obtain contracts. The Department of Justice has also been directed accordingly.
Following the executive order’s signing, the U.S. Department of Justice has suspended the enforcement of the law that prevented American corporations from securing financial benefits by bribing foreign government officials. The new Attorney General has also been instructed to halt actions and legal proceedings under the Foreign Corrupt Practices Act.
The Department of Justice stated that American individuals and companies offer bribes to foreign government officials to obtain business in other countries. President Trump’s stance is that the Foreign Corrupt Practices Act, introduced under former U.S. President Jimmy Carter, has harmed American companies on a global scale.
President Trump stated that this law looks good on paper but is actually very bad because it harms the country. Many deals cannot be made because no one wants to do business with the U.S. due to this law. Practically, this law is a disaster that discourages people from engaging in business with the U.S.
