Obama Scrambles To Pass TPP As Corporate Tribunals Face Scrutiny
by Dan Wright
Posted September 5, 2016
With opposition mounting, President Barack Obama is scrambling to jam the Trans-Pacific Partnership (TPP) trade deal through Congress before his term ends in 2017. Both major party presidential nominees—former Secretary of State Hillary Clinton and businessman Donald Trump—have publicly stated they oppose TPP and will not sign the agreement if they become president.
Though opposition to TPP has typically focused on the threat of losing American jobs, another concern is coming front and center: loss of sovereignty through a byzantine process known as investor-state dispute settlement (ISDS). According to a recent study of the ISDS process by BuzzFeed, “The system was designed to deal primarily with theft by autocrats, but, in the majority of cases today, businesses are suing democracies for enacting regulations.” More…