What is the TPP in less than 150 words?
The TPP covers 40 percent of the global economy, yet it was negotiated in secret with hundreds of corporate advisors while the public was locked out. The key provision in TPP grants new rights to thousands of foreign corporations to sue the U.S. government before a panel of 3 corporate lawyers. These lawyers can award the corporations unlimited sums to be paid by America's taxpayers, including for the loss of expected future profits. These foreign corporations need only convince the lawyers that a U.S. law or safety regulation violates their TPP rights. Their decisions are not subject to appeal and the amount awarded has no limit. This agreement is not good for American taxpayers. It means higher drug prices. It makes it easier to send jobs overseas, means fewer jobs and lower wages, and a government that doesn't work for us.
What others are saying about the TPP
Stop Subsidizing Climate Change
Trade deals like the Trans-Pacific Partnership don't cut off huge subsidies for oil and gas companies.
~US News and World Report
Op-ed: TransCanada lawsuit highlights need to scuttle TPP
07/16/16 09:13 AM
By Jeffrey D. Sachs, Brooke Güven and Lisa Sachs
"TransCanada is claiming damages for lost profits as if it had a right to proceed with the project in the first place — even though these profits would have come from an environmentally damaging project that the government had every reason to deny. Yet the ISDS process is so misguided and poorly conceived that TransCanada might well have a strong legal case under ISDS despite having no policy or ethical case."
Why pursue the TPP When We Know If Will Not Work? May 23, 2016, Congress Blog
"Will this 12-nation agreement really help U.S. manufacturers boost exports and serve millions of new customers? Unfortunately, the anwers is a very quiet "No". Good-paying jobs in "manufacturing, natural resources, and energy" (MNRE) are actually projected to fall by 0.2%."
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