President Trump Signs Order to Halt Foreign Bribery Law Enforcement
President Trump Signs Executive Order on Foreign Bribery Law
On Monday, US President Donald Trump signed an executive order to stop the enforcement of the Foreign Corrupt Practices Act (FCPA), a law that has been in place since 1977. This law prevents US companies from bribing foreign officials to win or keep business. Trump believes that halting this law will boost American business opportunities abroad.
Changes to the Foreign Corrupt Practices Act
The executive order directs the US Justice Department to stop prosecuting Americans under the FCPA. Attorney General Pam Bondi has been tasked with reviewing past and current decisions related to the law and creating new guidelines for its enforcement.
Trump has criticized the FCPA, calling it a "horrible law" and claiming that it puts US companies at a disadvantage compared to international competitors. The White House fact sheet states that the overenforcement of the FCPA has harmed US businesses by creating an uneven playing field.
Impact on American Competitiveness
The White House emphasized that the new order is part of Trump's efforts to prioritize US economic and security interests. The administration aims to ensure that American companies have the tools they need to succeed globally.
Since taking office, Trump has taken several actions to enhance American economic competitiveness, including renegotiating trade deals and cutting regulations that hinder US businesses.
Doubts Revealed
Donald Trump
Donald Trump was the President of the United States from 2017 to 2021. He is a businessman and television personality who became a politician.
Executive Order
An executive order is a directive issued by the President of the United States that manages operations of the federal government. It has the power of law.
Foreign Corrupt Practices Act (FCPA)
The FCPA is a US law that makes it illegal for American companies to bribe foreign officials to gain business advantages. It aims to promote fair business practices.
Justice Department
The Justice Department, also known as the Department of Justice (DOJ), is a part of the US government responsible for enforcing the law and ensuring justice. It handles legal affairs and prosecutions.
White House
The White House is the official residence and workplace of the President of the United States. It is located in Washington, D.C., and is a symbol of the US presidency.
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