So when the US president, Donald Trump, signed an executive order last week calling on his justice department to suspend enforcement of the nation’s flagship foreign anti-bribery law, it raised serious concerns among those who have witnessed the diversion of resources and other devastation caused by corruption.
Setting aside, for a moment, the immediate dangers of bribery to local populations, the executive order will create greater uncertainty, confusion and potential liability for US businesses.
We urge the US attorney general, during this review period and when developing revised guidelines, to consider these issues and ensure that US businesses can continue to rely on the benefits from this landmark law.
The executive order to suspend enforcement of the US foreign anti-bribery law will do little to open new markets and opportunities for American business.
The reasoning behind the executive order was, essentially, to “level the playing field” for American multinational businesses that must compete in overseas markets with companies from less well-regulated countries.
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