Tech giants, jewellers believe their continued efforts to make “conflict-free” products will be undermined without the law. Apple doesn’t want to see it scrapped. Neither does Intel or Tiffany & Co.
But the U.S. conflict-minerals law — which requires American public companies to avoid using minerals that fund war and human rights abuses in the Congo region — is widely seen today as facing its most serious threat since its passage in 2010.
The White House is considering a suspension of the law, part of U.S. President Donald Trump’s pledge to cut government regulations and a long-held goal of the U.S. Chamber of Commerce. If that does not happen, congressional Republicans are expected to try defunding it, which they attempted last year. At the same time, federal regulators recently announced that they plan to “reconsider” the law’s scope. The acting head of the Securities and Exchange Commission, the agency that oversees the regulation, called it “a misguided rule.”