Donald Trump stops the enforcement of the foreign bribery law at the present time: Report

US President Donald Trump issued an executive order directing the Ministry of Justice to stop the implementation of the 1977 Forex Practice Law (FCPA), which prohibits bribery by American and foreign companies to secure trade deals with foreign governments.

The US Public Prosecutor was charged with overseeing the FCPA enforcement suspension, who participated in prominent issues, PTI reported.

During the signing of the matter, Trump expressed his belief that the law was putting companies in a non -favorable position in the international arena.

In addition, he issued instructions to the newly appointed public prosecutor Pam Bondi to immediately stop any ongoing procedures related to the Foreign Practical Practices Law (FCPA). This guidance includes the suspension of the trials of American individuals and companies accused by the Ministry of Justice (Doj) by bribing foreign government officials in their efforts to secure job opportunities abroad.

“This looks good on paper, but in practical application, it is a disaster,” Trump said. “This means that if the American goes to a foreign country and begins to do business there, legally, legally, or otherwise, this is a guaranteed indictment in the investigation, and no one wants to do commercial business with the Americans because of this.”

He added: “It was the concept of Jimmy Carter, and it seems good, but it is very bad. It hurts the country and many deals are unable to do it because no one wants to do business.”

Last year, a case against Gotam Adwani and his nephew Sajar, who were charged with participation in a bribery system to secure favorable conditions for solar energy contracts by providing more than $ 250 million of bribes to Indian officials. The Ministry of Justice also brought a criminal indictment in the TEH case.

While the Adani Group described the “baseless” accusations, the renewable energy company said that the former employees referred to on the charges were “separated” for more than a year.

(With PTI inputs)