Representatives of 11 nations met in Lima, Peru, yesterday for the start of the 17th round of negotiations for the Trans Pacific Partnership Agreement, a trade treaty that would give corporations the right to appeal to international tribunals to overturn federal laws, state laws and court decisions regarding not just patent and copyright laws, but also “buy American” rules and environmental and labor laws.
The text of the draft treaty has not been made public and only limited information is available to Congress and the public. Business representatives, however, are being consulted on the draft. The Obama administration has stated that this is the cornerstone of its trade policy.
Once agreement is reached, the Obama administration or its successor will ask for Fast Track authority to require the Senate to vote the treaty up or down as is, without amendments. The previous Fast Track authority has expired, and should not be renewed.
Similar negotiations are underway for a new Transatlantic Trade and Investment Treaty with the European Union. This is a very, very big deal, even though there has been little reporting in the national press and network television.
Click on the following links for more information.
Political Corruption and the ‘Free Trade Racket by Dean Baker.
Upcoming Trans-Pacific Partnership Looks Like Corporate Takeover by Dave Johnson of Campaign for America’s Future.
Large Corporations Seek U.S.-European ‘Free Trade Agreement’ to Further Global Dominance by Andrew Gavin Marshall for AlterNet.
The 11 nations in the negotiations are the United States, Canada, Australia, New Zealand, Brunei, Malaysia, Singapore, Vietnam, Mexico, Chile and Peru. Japan has been invited to join the negotiations.