The legislation, which has been in effect for about 50 years, forbids US companies from bribing government officials in an attempt to keep or get new business with foreign nations.
Trump added, “It’s going to mean a lot more business for America,” as he signed the executive order Monday.
According to a White House statement, the “economic advancement of the US” was at risk due to “over-expansive” and “unpredictable” application of the legislation.
In the past, Trump has threatened to repeal the Foreign Corrupt Practices Act (FCPA), calling it a “horrible law” and claiming that “the world is laughing at us” for implementing it.
Additionally, he has instructed US justice authorities to examine previous and ongoing legal cases and develop new rules for the FCPA’s implementation.
