Monday, June 25, 2012

Details emerge on Trans-Pacific Partnership

Few details have emerged as to what might be part of the Trans-Pacific Partnership trade pact, currently in negotiation between the US and eight Pacific countries. Now a leaked draft agreement shows the US moving to contradict 2008 campaign promises on trade. The TPP would allow foreign corporations operating in the U.S. to appeal key regulations to an international tribunal, and that body would have the power to override U.S. law and issue penalties for failure to comply with its ruling. On June 14, Democracy Now! interviewed Lori Wallach, director of Public Citizen’s Global Trade Watch, a fair trade group that posted the leaked documents on its website. Wallach called the agreement "a 'one-percenter' power tool that could rip up our basic needs and rights."


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