The Trans-Pacific Partnership (TPP)
History’s Biggest Corporate Power Grab
WHAT’S THE TPP? The Trans-Pacific Partnership (TPP) is a proposed twelve-nation trade pact opposed by leading presidential candidates Hillary Clinton, Bernie Sanders and Donald Trump, as well as House Democratic Leader Nancy Pelosi, along with a broad national coalition of labor, environmental, and social justice leaders. The TPP:
- Would offshore American jobs and drive down wages for workers, pitting Americans against workers making 65 cents an hour in countries like Vietnam.
- Was negotiated in secret among 600 corporate advisors, NOT public officials.
- Would require us to import food that does not meet U.S. safety standards, limit policies to combat climate change, and raise prices on life-saving medicines.
- Empowers thousands of multinational corporations to sue the U.S. before a panel of corporate lawyers who can award corporations unlimited sums to be paid by America’s taxpayers, including for the loss of expected future profits.
Further DEVILS in the Details:
The TPP is the largest trade deal in history. It would represent 792 million people and account for 40% of the world’s economy. Participating countries include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, Vietnam.
The TPP was negotiated in secret, largely under the influence of corporate and Wall Street lobbyists. According to Senator Elizabeth Warren, 85% of seats on U.S. TPP advisory committees were held by “senior corporation executives or industry lobbyists.” Meanwhile, the American public was shut out.
Undue influence by corporations enshrined HUGE benefits for them in the deal, such as:
- Stronger patents for the pharmaceutical industry, delaying access to cheaper generic drugs.
- A panel of corporate lawyers can order compensation due to lost profits from government regulations. This means that multinational corporations can challenge any policy such as those that protect workers, lower toxic emissions, or keep food products safe to eat.
- The deal will allow American corporations to outsource even more jobs by circumventing domestic regulations. In short, it’s a deal meant to allow multinational corporations to avoid government restrictions and increase their bottom lines.
LEARN MORE ABOUT THE TPP AND TRADE JUSTICE @ CITIZENSTRADE.ORG