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TPP: TRANS PACIFIC PARTNERSHIP

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November Print Issue

@TheSabha

The Trans-Pacific Partnership (TPP) is a trade agreement negotiated among 12 nations: Australia, Brunei, Chile, Canada, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam, which comprise 40% of the world’s gross domestic product (GDP).

The basic point is that this is a trade agreement that has all kinds of provisions intended to restrict regulations and transfer power from state to market.

Imagine a corporation suing a government, saying that they have right to kill and you cannot regulate my product. And if you do then you have to pay me not to kill you.

On a provision very similar to this related to Tobacco, Uruguay is being sued by Philip Morris, the successor to Philip Morris, because Uruguay passed a regulation, as did Australia, that on the package you have to say that this is bad for your health.

Similarly, in the case of restriction of emissions of carbon, corporations can sue the government for loss of profits due to regulation and same is the case for medicine.

Just like the TPP, TTIP the Transatlantic Trade and Investment Partnership, a planned trade pact between the United States and European Union, undermines safety and environmental regulations to serve corporate interests.

 

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