General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe NYT on the Wikileak Investment Chapter of the TPP
and holy shit but that bolded last paragraph of the excerpt:
WASHINGTON An ambitious 12-nation trade accord pushed by President Obama would allow foreign corporations to sue the United States government for actions that undermine their investment expectations and hurt their business, according to a classified document.
The Trans-Pacific Partnership a cornerstone of Mr. Obamas remaining economic agenda would grant broad powers to multinational companies operating in North America, South America and Asia. Under the accord, still under negotiation but nearing completion, companies and investors would be empowered to challenge regulations, rules, government actions and court rulings federal, state or local before tribunals organized under the World Bank or the United Nations.
Backers of the emerging trade accord, which is supported by a wide variety of business groups and favored by most Republicans, say that it is in line with previous agreements that contain similar provisions. But critics, including many Democrats in Congress, argue that the planned deal widens the opening for multinationals to sue in the United States and elsewhere, giving greater priority to protecting corporate interests than promoting free trade and competition that benefits consumers.
The chapter in the draft of the trade deal, dated Jan. 20, 2015, and obtained by The New York Times in collaboration with the group WikiLeaks, is certain to kindle opposition from both the political left and the right. The sensitivity of the issue is reflected in the fact that the cover mandates that the chapter not be declassified until four years after the Trans-Pacific Partnership comes into force or trade negotiations end, should the agreement fail.
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http://www.nytimes.com/2015/03/26/business/trans-pacific-partnership-seen-as-door-for-foreign-suits-against-us.html
cali
(114,904 posts)It's one of the better articles I've seen this morning on the ISDS piece of the TPP.
randome
(34,845 posts)Sometimes this sounds a little like the panic of frivolous lawsuits.The overall effect of the TPP, I believe, will be to encourage greater cooperation. That's not necessarily a bad thing, is it?
[hr][font color="blue"][center]If you're not committed to anything, you're just taking up space.
Gregory Peck, Mirage (1965)[/center][/font][hr]
cali
(114,904 posts)There is more than enough evidence for anyone to see that this is problematic. Hell, even Chuck Schumer finds it so. Gee, forgive me for believing my own eyes and people like Warren and Brown and Sanders and Schumer over YOU.
And we're done on this subject. It just pisses me off too much and I don't need a hide.
Thank you Wikileaks!!!!!
bvar22
(39,909 posts)Has this magical effect been produced by ANY of the other "Free Trade Deals" ?
Here is the results of the Korean Free Trade Deal negotiated by Obama in 2011
in which American Workers were promised more jobs and a leveling of the trade deficit.
http://www.citizen.org/Page.aspx?pid=3595
So far, this "deal" has cost 60,000 American Jobs.
One of the scarier parts is that the Korean Free Trade Agreement is the prototype for the
TPP, and contains much of the same language....word for word.
Can you name a "Free Trade" Deal that has actually improved the working conditions for American Workers?
Please do so.
I'll wait.
Ichingcarpenter
(36,988 posts)This so-called trade agreement is just a ploy for international corporations
to dominate and subjugate and privatize the sovereignty of nations, the planet, progress and humans for their own selfish controlling shortsighted greed
They answer to know one except their major shareholders and you an't one of them and neither is the rest of the planet.
joeybee12
(56,177 posts)But critics, including many Democrats in Congress, argue that the planned deal widens the opening for multinationals to sue in the United States and elsewhere, giving greater priority to protecting corporate interests than promoting free trade and competition that benefits consumers.
Why is anyone surprised?
jwirr
(39,215 posts)to fight back if we are sued. They are going to be sitting ducks. Not that they aren't already. Corporations pretty much take every advantage of poorer countries already.