Currently - the President is working on a new Trans-Pacific
Partnership trade pact to open up trading markets with eight Pacific
nations. This morning - a critical document outlining new provisions in
this trade deal was leaked - revealing the President stands behind
giving foreign transnational corporations' unprecedented power to abuse
American workers, pollute our environment, and destabilize our markets.
Under the agreement - American companies would have to comply with
American law and any labor, banking, and environmental regulations. But
foreign companies operating on U.S. soil wouldn't have to. Instead,
they can appeal to an international tribunal that has the power to
overturn laws passed by our Congress - and levy trade sanctions on the
United States. In other words - if this trade deal passed then
Americans laws would no longer apply to foreign business tycoons setting
up shop in the United States.
This is yet another blow to American sovereignty - and the power of
"we the people" to protect our commons and our workers. We're headed
toward a nationless world where only transnational corporations rule -
and they aren't exactly big fans of democracy or the middle class.
-Thom
(Is there no end to globalization? Tell us here.)
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