Proposed international trade rules would give corporations the power to overrule governments
by: J. D. Heyes
June 17, 2012
As long and as hard as some nations (especially the United States) have fought through the years to achieve and maintain independence, it’s mind-boggling to think they would ever voluntarily surrender that sovereignty. And yet, many seem willing to do just that, according to newly exposed international trade rules that would give transnational corporations the kind of rights once reserved only for governments.
According to a report from the Citizens Trade Campaign (CTC), a “national coalition of environmental, labor, consumer, family farm, religious, and other civil society groups founded in 1992 to improve the North American Free Trade Agreement,” transnational corporations would be given unprecedented authority to resolve trade disputes.
Under the rules, which were drafted by a collective of nine nations working to form the Trans-Pacific Partnership (TPP), which – according to the U.S. Trade Representative (USTR) Web site is “an ambitious, next-generation, Asia-Pacific trade agreement that reflects U.S. priorities and values” – international corporations would have “special authority to challenge countries’ laws, regulations and court decisions in international tribunals that circumvent domestic judicial systems,” the CTC said.
Another NAFTA for another time