Among the 29 chapters of the Trans-Pacific Partnership, only 5 relate to traditional trade policy. The bulk of the agreement is geared toward giving the multinational corporations currently negotiating the deal the power to overwrite a sovereign nation’s environmental, labor, intellectual property rights, and other local laws so they can maximize their profits.
The TPP “Investor-State” provisions would allow corporations to sue member countries for possible “loss of profits”, not actual losses. The North American Free Trade Agreement (NAFTA) has a similar provision that has already cost US taxpayers $3 billion, with another $14 billion in pending claims.
No comments:
Post a Comment