Trump froze bribery law that hit Tesla suppliers
Elon Musk listens to U.S. President Donald Trump speak in the Oval Office of the White House in Washington, D.C., U.S., Feb. 11, 2025. Kevin Lamarque | Reuters The anti-bribery law whose enforcement President Donald Trump has suspended was previously used by the Department of Justice and financial regulators to win settlements totaling more than $1.5 billion from companies that are major suppliers for Tesla, the electric vehicle giant run by Trump’s ally Elon Musk. And Trump in his executive order Monday pausing the law, which bans bribery of foreign officials, says, “American national security depends in substantial part” on the U.S. and its companies “gaining strategic business advantages whether in critical minerals, deep-water ports, or other key infrastructure or assets.” Tesla and other electric vehicle companies rely on critical minerals, mostly sourced overseas, to make batteries. Critical minerals and deep-water ports were the only two specific advantages mentioned by name in the order, titled “Pausing Foreign Corrupt Practices Act Enforcement to Further American Economic and National Security.” CNBC has asked the White House, Tesla …