Trump signed an executive order freezing enforcement of the Foreign Corrupt Practices Act.
President Donald Trump holds up an executive order relating to the Foreign Corrupt Practices Act in the Oval Office at the White House, Monday, Feb. 10, 2025, in Washington. NEW YORK — To its fans, it’s an undeniable force for good in a corrupt world, a groundbreaking anti-bribery statute that has brought powerful businessmen to heel for secretly paying off foreign government officials to win contracts abroad.National Politics |On Monday, President Donald Trump took a side.
Punishment for conviction is imprisonment of up to 20 years, and companies face fines double their profits from the illicit deal. That has often meant hundreds of millions of dollars, sometimes billions, in payments.The law has been used hundreds of times in the past decade to stop bribes to win deals, leading to massive settlement payments from multinationals like Goldman Sachs, Germany’s Siemens and the Swiss commodities trader Glencore.
Trump’s statements are reviving a criticism of the law that was common decades ago before other developed countries enacted their own bribery laws. More recently both Republican and Democratic administrations have embraced the FCPA not just as a way to stamp out U.S. corruption but to fight the kinds of conditions abroad that allow cartels and terrorist groups that act against U.S. interests to thrive.
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