Why Elizabeth Warren is declaring war on an obscure trade policy

[n2doc]

Populist crusader Massachusetts Sen. Elizabeth Warren has picked her next big fight, and this one could create real problems for the Obama Administration.

Her beef is with a piece of the massive Trans-Pacific Partnership trade deal that the Obama Administration is promoting. It's called investor-state dispute settlement, and it gives a foreign corporation the power to fight a government outside of the normal judicial system.

"The name may sound mild, but don't be fooled," Warren wrote in a Washington Post op-ed. "Agreeing to ISDS in this enormous new treaty would tilt the playing field in the United States further in favor of big multinational corporations. Worse, it would undermine U.S. sovereignty."

This is a big deal, not least because TPP is huge; its members account for 40 percent of the world's economy. Add in the Transatlantic Trade and Investment Partnership being negotiated with European countries — which also has investor-state dispute settlement provisions — and you have a majority of the global economy. That means the ISDS provisions in these trade agreements could affect a sizable share of the world's corporations.
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http://www.vox.com/2015/2/28/8124057/investor-state-dispute-settlement-elizabeth-warren

[djean111]

1. "obscure trade policy" - well, I am sure it was supposed to kept in obscurity until passed.

This is probably what the "official" marginalization of this provision will be, though. I have already seen attempts to conflate this with the existing provisions, which do involve sovereign courts. Either outright lying, or don't comprehend the difference.

[NYC_SKP]

2. Odd. Hillary Clinton LOVES the TPP!

Hillary Clinton on Free Trade

Chief advocate for Trans-Pacific Partnership (TPP)

Within the populist Democratic movement, there is a rising tide against once-popular trade deals. Clinton has been involved with many of the pacts from her time as first lady, in the Senate and finally, as part of the Obama administration. Clinton saw herself in the middle of the North American Free Trade Agreement (NAFTA) during her husband's presidency. She supported deals with Oman, Chile and Singapore during her tenure in the Senate. As secretary of State, she was a chief advocate as talks commenced surrounding the Trans-Pacific Partnership (TPP), one of the largest worldwide deals in recent history.

Many proponents of the agreements argue that negotiations need to take place in secret in order to protect the fragile interests of participating countries. This has not sat well with public interest groups and more liberal members of the Democratic Party.
Source: Megan R. Wilson in TheHill.com weblog, "Clinton vs. Warren" , Aug 24, 2014

TPP agreement creates more growth and better growth

Many proponents of the agreements argue that negotiations need to take place in secret in order to protect the fragile interests of participating countries.
At the State Department, Clinton didn't address specifics in the negotiating process, but told attendees at an Asia-Pacific Economic Cooperation (APEC) forum conference that she hoped it would "create a new high standard for multilateral free trade."

Critics have said that the agreement would ease regulations protecting both laborers & the environment, despite claims from Clinton to the contrary: "Our goal for TPP is to create not just more growth, but better growth. We believe the TPP needs to include strong protections for workers, the environment, intellectual property, and innovation," Clinton said at the event in 2011. "It should also promote the free flow of information technology and the spread of green technology, as well as the coherence of our regulatory system and the efficiency of supply chains."
Source: Megan R. Wilson in TheHill.com weblog, "Clinton vs. Warren" , Aug 24, 2014

http://www.ontheissues.org/2016/Hillary_Clinton_Free_Trade.htm

[Jackpine Radical]

3. Hillary's line here is strikingly reminiscent of

what Bill & Al Gore were telling us when they fought to get NAFTA through. All those worker & environmental protections. Yeah. Turns out they were a considerable inconvenience to the corporations, so we never got around to that part.

[Enthusiast]

6. Precisely.

We heard all about how there was nothing to worry about. All worker's health and safety considerations would be forefront in the negotiations. The environment would not suffer.

They FUCKING LIED!

And they're lying again.

[InAbLuEsTaTe]

8. Just what most of us have come to expect from Hillary. OTOH, no surprise Elizabeth, once again, always lookin out for the common folk.

[whereisjustice]

4. Hillary's on-board with TPP. I guess NAFTA wasn't enough devistation for her. She won't be

happy until we are all sewing jeans for the rich kids in China and India at $1.50/day.

You know, equal pay for equal work.

When will Democrats nominate someone who isn't at war with working families. Isn't that what Republicans are for?

[InAbLuEsTaTe]

9. Seriously! Paging Elizabeth Warren...please pick up the red courtesy phone...your country's callin on line 1.

[Enthusiast]

5. Corporate sovereignty is Fascism. This is one of the reasons they threw the fucking tea in the water

We already have a taste of it in the legislative process and in our elections.

No Democrats should ever be alright with the TPP or TTIP.

Democrats cannot be Fascists. That's for the other party.

[GeorgeGist]

7. Countries are so 20th century.