It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
The Trans-Pacific Partnership (TPP) is a proposed regional regulatory and investment treaty. As of 2014, twelve countries throughout the Asia-Pacific region have participated in negotiations on the TPP: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam.
Critics of the investment protection regime argue that traditional investment treaty standards are incompatible with environmental law, human rights protection, and public welfare regulation, meaning that TPP will be used to force states to lower standards e.g., environmental and workers protection, or be sued for damages.
“The Investment Chapter highlights the intent of the TPP negotiating parties, led by the United States, to increase the power of global corporations by creating a supra-national court, or tribunal, where foreign firms can “sue” states and obtain taxpayer compensation for “expected future profits”. These investor-state dispute settlement (ISDS) tribunals are designed to overrule the national court systems. ISDS tribunals introduce a mechanism by which multinational corporations can force governments to pay compensation if the tribunal states that a country’s laws or policies affect the company’s claimed future profits. In return, states hope that multinationals will invest more.
Julian Assange, WikiLeaks editor said:
“The TPP has developed in secret an unaccountable supranational court for multinationals to sue states. This system is a challenge to parliamentary and judicial sovereignty. Similar tribunals have already been shown to chill the adoption of sane environmental protection, public health and public transport policies.”.
originally posted by: MystikMushroom
I read a comment that made me think...
So, according to this corporations could sue countries for raising the minimum wage because it would hurt future profits?!
Wait a minute... doesn't this strip away the sovereignty of any country that becomes a part of the TPP? Aren't the participating countries basically giving up their sovereign rights to the corporations and their "court"?
Obama Seeks Fast Track for TPP
Congressional Democrats are openly criticizing the secrecy surrounding the negotiations over the Trans-Pacific Partnership (TPP), just as President Obama begins a major push to pass the controversial deal. The United States is engaged in talks with 11 Latin American and Asian countries for the sweeping trade pact that would cover 40 percent of the global economy. But its provisions have mostly been kept secret. After the White House deemed a briefing on the trade pact "classified," Rep. Rosa DeLauro of Connecticut called the measures "needlessly secretive," saying: "If the TPP would be as good for American jobs as they claim, there should be nothing to hide." This comes as Obama recently called on Congress to pass "fast track" legislation to streamline the passage of trade deals through Congress. Meanwhile, the AFL-CIO says it will withhold contributions to congressional Democrats to pressure them to vote no on fast-track authority. And some tea party-backed Republicans are saying Obama cannot be trusted with the same negotiating authority that past presidents have had. This spring, the White House has invited Japan’s Prime Minister Shinzo Abe to address a joint session of Congress in which he may promote the TPP.
originally posted by: xuenchen
P.S. don't let Democrat's "Rage" fool you.
They are 100% for this whole thing