Washington: President Donald Trump on Monday signed an executive order directing the Justice Department to pause prosecutions of Americans accused of bribing foreign government officials while trying to win business in their countries.
The order is aimed at restoring American economic competitiveness by ordering “revised, reasonable enforcement guidelines for the Foreign Corrupt Practices Act (FCPA) of 1977,” according to a copy of a fact sheet seen by Reuters.
“American national security depends on America and its companies gaining strategic commercial advantages around the world, and President Trump is stopping excessive, unpredictable FCPA enforcement that makes American companies less competitive,” the fact sheet said.
Trump signed the order in the Oval Office in front of reporters.
The order directs Attorney General Pam Bondi to pause enforcement of the FCPA until she issues revised enforcement guidance that promotes American competitiveness, the fact sheet said.
“Future FCPA investigations and enforcement actions will be governed by this new guidance and must be approved by the attorney general,” the document said.
The White House argued that U.S. companies are harmed by FCPA “overenforcement because they are prohibited from engaging in practices common among international competitors, creating an uneven playing field,” the fact sheet said.
The order mentions the need for strategic advantages in critical minerals, deepwater ports, and other key infrastructure or assets around the world to enhance U.S. national security.
In 2024, the Justice Department and the Securities Exchange Commission filed 26 FCPA-related enforcement actions, and at least 31 companies were under investigation by year end, the fact sheet said.
(Reporting by Steve Holland in Washington; Additional reporting by Trevor Hunnicutt in Washington; Editing by David Gregorio and Matthew Lewis)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.
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