President Donald Trump on Monday signed an executive order directing the Department of Justice to pause enforcing a nearly half-century-old law that prohibits American companies and foreign firms from bribing officials of foreign governments to obtain or retain business.
“It sounds good, but it hurts the country,” Trump said of the Foreign Corrupt Practices Act, as he signed the order at the White House.
“Many, many deals are unable to be made because nobody wants to do business, because they don’t want to feel like every time they pick up the phone, they’re going to jail,” Trump said, referring to U.S. anti-corruption efforts.
This is a no-go for me. I was planning to buy some low level Chinese officials and have them promoted through the ranks over the next 20-30 years until I control all of China but the tariffs make the investment impossible for me to justify to my shareholders at the next hourly earnings call.