Trump bans anti-bribery law
New Delhi| US President Donald Trump has issued an order to ban the half-century-old anti-bribery law. Under this law, the Biden government had taken action against India’s Adani Group. The Foreign Corrupt Practices Act (FCPA), which the Trump administration has blocked, prohibits US-linked firms and people from giving money or gifts or any kind of bribe to foreign officials to secure their business abroad. Is.
President Trump had considered banning this law even during his first term. According to media reports, Trump said regarding the FCPA law that ‘this law looks good on paper, but in practice it is very bad. According to this law, if an American wants to go to another country and do business there legally, legitimately or in any other way, then he will definitely have to face investigation and prosecution according to this law and no one wants this to happen to him.’
The case that was filed against Adani Group in America in the last Biden administration was also done under this law. Adani Group had been accused of bribing Indian officials with $250 million to get solar power contracts in India. However, Adani Group had completely rejected the allegations of the Biden government.
The White House issued a statement saying that the FCPA law was against American citizens and its business. Through this, our own government wastes its limited prosecutorial resources in the normal trade activities of other countries, and it also harms American economic competitiveness and national security. The statement said that the Trump administration wants to eliminate as many barriers to trade as possible. After this decision of the US government, a rise has been seen in the shares of Adani Group.
Six US lawmakers had also recently written a letter to Attorney General Pam Bondi saying that the earlier action taken by the Justice Department was not only misleading but it also spoiled America’s relations with important allied countries like India. The MPs had called it a stupid decision of the Biden government.
