In 2012, compliance lawyer Alexandra Wrage and Donald Trump appeared on CNBC’s “Squawk Box” to discuss the Foreign Corrupt Practices Act (FCPA). Trump called the FCPA a “horrible law,” arguing that it put U.S. companies at a disadvantage. However, Wrage emphasized the importance of compliance and ethical business practices. When Trump became president in 2017, there were concerns about his stance on corruption, but his administration ended up being one of the most aggressive in enforcing the FCPA. Resources for anti-corruption efforts increased, and the FBI established new units. While some critics worried about potential misuse of the FCPA, others saw opportunities for using it strategically in foreign policy.
The passage of the Global Magnitsky Act in 2016 allowed the U.S. government to sanction foreign individuals for human rights abuses. Bill Browder, a key advocate for the act, initially had concerns about the Trump administration’s commitment to enforcing it but was ultimately satisfied with the handling of the law. However, there are fears that the administration’s approach may change in the future, particularly in its second term.
With the appointment of key officials like Marco Rubio as secretary of state and Matt Gaetz as attorney general, there is a potential for continued focus on combating corruption. The effectiveness of these efforts will rely heavily on the individuals appointed to lead these agencies and their approach to enforcing anti-corruption laws.
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