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Obama Wants Corporations To Have Greater Power In Trade Deal

trade deal corporations

Image source: CNSNews

Memos involving Trans Pacific Partnership free trade negotiations leaked to the media have alarmed economists, labor unions and environmental groups.

The TPP involves the United States and a dozen different nations and could give new powers to international corporations, restrict banking regulations, endanger America’s food supply, and drive up the cost of prescription medicines, if predictions by opponents are accurate.

As previously reported by Off The Grid News, the Trans Pacific Partnership deal appears to be cloaked in not just controversy but secrecy as well. That trade deal, along with the Trans-Atlantic Trade and Investment Partnership deal, would allegedly force the United States to “harmonize” food safety standards – causing America to abide by the standards of other nations.

Americans who are concerned that the USDA, FDA, and EPA agencies are not protecting the safety and integrity of our food supply are among those deeply concerned about the emerging partnership.

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Leaked TPP memos published by the Huffington Post indicate that the Obama administration has deemed the talks among the trade treaty partners classified and banned Congress from sharing the country’s negotiating stance with either the press corps or members of the public. If the details in the memo are accurate, Congressional staffers have not been permitted to view the TPP documents, either.

The US Chamber of Commerce and a host of American corporations support the Trans Pacific Partnership, although negotiations have hit some rough spots.

One of the most hotly contested portions of the Trans Pacific Partnership plan involves the Obama-backed “corporate empowerment” portion of the document text. This portion of the agreement would reportedly give international companies the ability to sue in international court over international laws and regulations. Generally, that power is reserved for nations. “The U.S. has endorsed some corporate political powers in prior trade agreements, including the North American Free Trade Agreement, but the scope of what laws can be challenged appears to be much broader in TPP negotiations,” The Huffington Post reported.

The leaked memo said:

The United States, as in previous rounds, has shown no flexibility on its proposal, being one of the most significant barriers to closing the chapter, since under the concept of Investment Agreement nearly all significant contracts that can be made between a state and a foreign investor are included. Only the U.S. and Japan support the proposal.

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