President Trump signs an executive order addressing the Foreign Corrupt Practices Act, aimed at reducing its negative impact on American businesses abroad. The order instructs the Department of Justice to use prosecutorial discretion to minimize unintended consequences that hinder American competitiveness. Trump critiques the law’s original enforcement, emphasizing its practical harm to business dealings, and vows to create more opportunities for U.S. businesses globally.
#Trump #ForeignCorruptPracticesAct #BusinessReform #ExecutiveOrder #USCompetitiveness #ForeignBusiness #AmericanBusiness #JusticeReform #BusinessOpportunities #GlobalBusiness #ProsecutorialDiscretion #PolicyChange #USAbroad #LegalReform #InternationalDeals #AmericaFirst #BusinessExpansion #GlobalTrade #FCPAReform #EconomicPolicy #BusinessLaw
~HT.97~GR.122~ED.103~
#Trump #ForeignCorruptPracticesAct #BusinessReform #ExecutiveOrder #USCompetitiveness #ForeignBusiness #AmericanBusiness #JusticeReform #BusinessOpportunities #GlobalBusiness #ProsecutorialDiscretion #PolicyChange #USAbroad #LegalReform #InternationalDeals #AmericaFirst #BusinessExpansion #GlobalTrade #FCPAReform #EconomicPolicy #BusinessLaw
~HT.97~GR.122~ED.103~
Category
🗞
NewsTranscript
00:00If an American goes over to a foreign country and starts doing business over there legally,
00:05legitimately, it's almost a guaranteed investigation, indictment, and nobody
00:11wants to do business with the Americans because of it. Nobody wants to do business.
00:14It made it very, very hard from a practical standpoint to make deals. They want to deal
00:20with the Americans, but they don't want to be under investigation. Many, many deals are unable
00:24to be made because of it. Nobody wants to do business because they don't want to feel like
00:28every time they pick up a phone, they're going to jail.
00:35We have an executive order relating to the Foreign Corrupt Practices Act.
00:42As you've repeatedly identified, the way that this act has been enforced over the years
00:46has been devastating to American business opportunities and business competitiveness
00:51abroad. We are essentially ordering the Department of Justice to use its prosecutorial
00:56discretion in a way to ameliorate the negative effects of the Foreign Corrupt Practices Act,
01:01to allow Americans to do business abroad, and to allow our foreign partners to do business
01:05with Americans without fearing unjust prosecution. And for those of you that know this, it turned
01:12out to be, it sounds good on paper, but in practicality, it's a disaster. It means that
01:18if an American goes over to a foreign country and starts doing business over there legally,
01:23legitimately, or otherwise, it's almost a guaranteed investigation, indictment,
01:31and nobody wants to do business with the Americans because of it. Nobody wants to
01:35do business. They say, look, we can deal with China. They can do whatever they want. We can
01:39deal with Russia. We can deal with anybody, and we have a normal life. You deal with America,
01:43the FBI gets over there. They don't investigate death and murders on the street. In New York,
01:49in Los Angeles, they go over and investigate a business guy trying to do business. So,
01:54it made it very, very hard from a practical standpoint to make deals. They want to deal
02:00with the Americans, but they don't want to be under investigation every time they speak
02:04to an American, every time an American makes a phone call to somebody in a different country.
02:10It's a disaster for this country. And the, I guess it was a Jimmy Carter
02:16concept. And it sounds so good, but it's so bad. It hurts the country. And many, many deals are
02:23unable to be made because of it. Nobody wants to do business because they don't want to feel like
02:28every time they pick up a phone, they're going to jail. So, we'll sign this, and it takes courage
02:35to sign it because you only get bad publicity when you sign it. It sounds so nice. The title
02:39is so lovely, but it's an absolutely horror show for America. So, we're signing it because that's
02:46what we have to do to make it good. Okay. Thank you. It's an important one. It's going to mean
03:02a lot more business for America. Okay. Thank you, sir.