Posted 1 year ago on June 14, 2012, 9:43 p.m. EST by PeterKropotkin
from Oakland, CA
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JUAN GONZÁLEZ: We turn now to a controversial trade pact between the United States and eight Pacific nations that until now has remained largely secret. It’s called the Trans-Pacific Partnership, or TPP. A chapter from the draft agreement leaked Wednesday outlines how it would allow foreign corporations operating in the United States to appeal key regulations to an international tribunal. The body would have the power to override U.S. law and issue penalties for failure to comply with its rulings.
The agreement is being negotiated by the U.S. trade representative, Ron Kirk, appointed by President Obama. But the newly revealed terms contradict promises Obama made while running for president in 2008. One campaign document read in part, quote, "We will not negotiate bilateral trade agreements that stop the government from protecting the environment, food safety, or the health of its citizens; [or] give greater rights to foreign investors than to U.S. investors."
AMY GOODMAN: Earlier leaks from the draft Trans-Pacific Partnership agreement exposed how it included rules that could increase the cost of medication and make participating countries adopt restrictive copyright measures.
No one from the U.S. trade representative’s office was able to join us, but in a statement to Democracy Now!, they said, quote, "Nothing in our TPP investment proposal could impair our government’s ability to pursue legitimate, non-discriminatory public interest regulation."
For more, we’re joined by Lori Wallach, director of the fair trade group Public Citizen’s Global Trade Watch. The leaked documents were posted on her organization’s website early Wednesday morning.
Lori, welcome to Democracy Now! Explain what the documents show and what this agreement is about.
LORI WALLACH: Well, it’s been branded as a trade agreement, but really it is enforceable corporate global governance. The agreement requires that every signatory country conform all of its laws, regulations and administrative procedures to what are 26 chapters of very comprehensive rules, only two of which have anything to do with trade. The other 24 chapters set a whole array of corporate new privileges and rights and handcuff governments, limit regulation. So the chapter that leaked—and it’s actually on the website of Citizens Trade Campaign, it’s a national coalition for fair trade—that chapter is the chapter that sets up new rights and privileges for foreign investors, including their right to privately enforce this public treaty by suing our government, raiding our Treasury, over costs of complying with the same policies that all U.S. companies have to comply with. It’s really outrageous.