Donald Trump's Executive Order Paused US Bribery Law: What Does It Mean For Adani's Case?

(MENAFN- Live Mint) United States President Donald trump on February 10 signed an executive order directing the US Justice Department to halt persecutions of Americans accused of bribing foreign officials while trying to win or retain business in their nations, Reuters reported.

The question now arises, if this will likely have any impact on the ongoing investigation into allegations made by Hindenburg Research against Indian conglomerate Adani Group .

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Donald Trump has issued an executive order which impact the US' close to 50-year-old Foreign Corrupt Practices Act (FCPA), according to the Reuters report. The order also directs US Attorney General Pam Bondi to review current and past decisions related to the law and make new guidelines for enforcement, it added.

Saying that he wanted to“strike down” the FCPA while in his first term as President, Donald Trump told reporters at the White House that“its going to mean a lot more business for America”. He called it a“horrible law” and said“the world is laughing at us” for implementing it, the Reuters report stated.

About the FCPA

The FCPA was enacted in 1977,and blocks US-based companies from bribing foreign officials. The report noted that this Act has largely guided how US companies operate in foreign countries.

In a statement, anti-corruption watchdog Transparency International said that the FCPA made US “a leader in addressing global corruption”.

However, in a fact sheet announcing Donald Trump' executive order to“restore American competitiveness and security” through a pause on the FCPA, the White House claimed the Act's“overenforcement harmed US companies as they are banned from engaging in practices common among international competitors, creating an uneven playing field”.

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