Posts Tagged ‘Trade Promotion Authority’

There are more TPPs in the pipeline

July 1, 2015

The Trans-Pacific Partnership is just the beginning.

POLITICO reported that four more trade agreements are now being negotiated.

Following Congress’ hard-fought approval of “fast-track” trade authority last week, U.S. Trade Representative Michael Froman vowed not only to complete the 12-nation Trans-Pacific Partnership but an even bigger pact with the European Union and three other major trade deals — all in the 18 months remaining in President Barack Obama’s term.

It could add up to the biggest trade blitz in history, transforming the rules under which the world does business.

sw0625cd_590_356“We’ve got a lot of pots on the stove,” Froman told POLITICO while watching senators cast their final votes to send the legislation to the president. We want to get TPP done and through Congress. We want to get TTIP negotiated. We’re going to finish ITA. I’m hoping to finish EGA and TISA.”

Those would be, in order: the Transatlantic Trade and Investment Partnership agreement with the European Union, an even bigger pact than the TPP in terms of economic size; the World Trade Organization’s Information Technology Agreement, which covers about 97 percent of world IT trade; the Environmental Goods Agreement, accounting for 86 percent international commerce in green goods; and the 24-party Trade in International Services Agreement, which involves three-quarters of the United States’ gross domestic product and two-thirds of the world’s services, such as banking and communications.

via POLITICO.

I’d heard of the Transatlantic Trade and Investment Partnership (TTIP) and the Trade in Services Agreement (TISA), but not the Information Technology Agreement or the Environmental Goods Agreement until now.

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More toxic trade agreements are in the pipeline

June 11, 2015
Negotiators of Trans-Pacific Partnership Agreement

Scope of the proposed Trans-Pacific Partnership Agreement

Negotiators of Trade in Services Agreement

Scope of the proposed Transatlantic Trade and Investment Partnership

Negotiators of Trade in Services Agreement

Scope of the proposed Trade in Services Agreement

If Congress approves the Trade Promotion Authority, aka Fast Track, it will grease the way not only for the Trans-Pacific Partnership, but for two other toxic trade agreements now in the pipeline—the Transatlantic Trade and Investment Partnership and the Trade in Services Agreement.

The Transatlantic Trade and Investment Partnership is basically the same as the Trans-Pacific Partnership, except that it covers a different set of countries.

The Trade in Services Agreement is mainly about deregulation of financial services, but it also has a section on “movement of natural persons.”  In other words, TISA would cover immigrationtemporary visas for specialized workers, according to a draft released by Wikileaks.

Notice which countries are not in any of the three proposed agreements.  The BRICS countries—Brazil, Russia, India, China and South Africa—would retain sovereignty over their economies after United States, the European Union and their satellites give them up.

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Who said Obama isn’t a strong leader?

June 11, 2015

Anybody who said that Barack Obama is a weak leader must eat their words in the light of the way he is pushing the Trans Pacific Partnership agreement through Congress.

Likewise those who said he is incapable of working with the Republican leaders in Congress.

Barack ObamaI think people mistook his character because they mistook his priorities.  The President is a tough fighter for things that matter to him.

It is just that issues such as closing Guantanamo Bay or defending Social Security were not among his top priorities.  The TPP and the Trade Promotion Authority, aka Fast Track, are.

The TPP is supposedly a trade agreement, but based on what’s been leaked out about it so far, that’s not what it is.

It creates new international law that limits the power of sovereign governments to enact laws and regulations to protect public health, the environment and the well-being of their citizens/

And it sets up a mechanism by which corporations can have governments penalized if a tribunal rules that laws and regulations deny them their just profits.

Corporate executives say they will invest more confidently in countries if they have assurance that they won’t be subject to onerous laws and regulations and if they can have recourse to a special tribunal if national governments impose laws and regulations they think are unfair.  No doubt!

That doesn’t mean that no investment will take place if they don’t get all these special protections.

My idea of a free trade agreement is an agreement among nations to lower tariffs and import quotas so that people within those countries can freely exchange goods and services.  Most such barriers were eliminated years ago.  That’s why almost everything you pick up in an American department store is labeled “Made in Vietnam” or “Made in Korea” or “Made in Bangladesh”.

Eliminating restrictions on currency manipulation, or demanding privatization of public services, is very different.   This is a way of shifting governance from national governments to international corporations.

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Debating the TPP: links to the pros and cons

May 2, 2015

I’m strongly against the proposed Trans Pacific Partnership agreement and the fast track proposal for approving it, based on what I know of both.

I write this even though I admit I don’t know what will be in the TPP when it is finally submitted to Congress.  I could be wrong in everything I say.   I don’t think I will be, in fact I’m pretty sure I won’t be, but in this post, I link to arguments in favor as well as those opposed so you can judge both sides of the question.

I link.  You decide.

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A note on the TPP and fast track

April 23, 2015

I’ve been writing about the proposed Trans Pacific Partnership agreement as if it were a done deal, and the only significance of the Trade Promotion Authority bill, aka “fast track,” in regard to the TPP is to push it through with a minimum of debate.  This is not so.

I do in fact think that is the significance of “fast track,” but I should emphasize that the TPP is not a done deal.  The Japanese government is balking at some of the proposals and, without Japan, the TPP would be meaningless.

So a “fast track” plan that allowed Congress to give meaningful input into the negotiations would be important.  Whether or not the Wyden-Hatch-Ryan bill does this is an important question.

‘Fast track’ involves more than just the TPP

April 21, 2015

The significance of “fast track” goes far beyond clearing the way for quick approval of the Trans Pacific Partnership agreement.

There are other TPP-like trade agreements now under negotiation, such as the Transatlantic Trade and Investment Partnership and the Trade In Services Agreement.

The Trade Promotion Authority bill, otherwise known as “fast track,” would govern how such agreements are negotiated and voted on in the future.

In theory this could work well.  Negotiators would pursue objectives set by Congress, the leaders of Congress would be kept informed as negotiations progress and ratification of the agreement would be only a formality.   But there is no mechanism in the current fast track bill by which Congress can call the negotiators to account or demand information.

Fast track assumes good faith on the part of all concerned, and, based on the historic record, including the way the TPP has been negotiated, I think this would be a naive assumption.

LINK

Hatch Bill Would Revive Controversial 2002 Fast Track Mechanism That Faces Broad Congressional, Public Opposition by the staff of Public Citizen’s Global Trade Watch division.

What’s Wrong With Wyden-Hatch-Ryan’s Fast Track Bill – The Specifics by Gaius Publius for Down With Tyranny (via naked capitalism).  [Added 4/22/2015]