A new Wikileaks-published leak from
the secretive Trans Pacific Partnership (TPP) treaty reveals a January
2015 draft "Investment Chapter" of the agreement, where the
investor-state dispute settlement (ISDS) mechanisms are set out. They allow companies to repeal nations' environmental, health and labor laws. The
ISDS work is led by the USA. Under its terms, a treaty-established
tribunal would have the power to overrule national courts, and to award
millions from tax-coffers to companies who believe that laws undermine
their future profits.
The US Congress is preparing to hand
Obama's trade rep fast-track authority to enter into TPP, though the
terms of the deal can't be disclosed for at least four years (Congress
only just got its first look at the TPP, and the USTR threatened to jail
Members if they disclosed its contents to voters).
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