Question about the TPP

[yallerdawg]

1. Read it yourself - we don't need speculation.

Question

“Is it true that Investor-State Dispute Settlement (ISDS) would allow corporations to override laws, including environmental and public health regulations?

Answer

No. ISDS cannot change law in the United States or any other country. No government measure (federal, state, or local) can be blocked or reversed under the ISDS provisions or any other part of TPP. The United States would never negotiate away its right to regulate in the public interest, and we don’t ask other countries to do so either. This is true with regard to public health and safety, the financial sector, the environment, and any other area where governments seek to regulate.

Put simply, ISDS is a mechanism to promote good governance and the rule of law. ISDS protects basic rights — such as protection against discrimination and expropriation without compensation — akin to those enshrined in U.S. law and the Constitution. We already provide these protections at home to foreign and domestic investors under U.S. law. That’s why — although we are party to 51 agreements with ISDS — the U.S. has never lost an ISDS case. Our trade agreements ensure the same kinds of protections to U.S. businesses and investors operating abroad, where they face a heightened risk of discrimination and bias.

TPP includes a number of enhancements that strengthen the transparency and integrity of the dispute settlement process under ISDS. These include making hearings open to the public, allowing the public and public interest groups to file amicus curiae submissions, ensuring that all ISDS awards are subject to review by domestic courts or international review panels, ensuring that governments have a way to dismiss claims that are without merit on an expedited basis, and more.

In addition, after consultations with Members of Congress, the United States pushed for and secured additional safeguards that will establish a code of conduct for ISDS arbitrators and facilitate the dismissal of frivolous claims, among other first-of-their-kind provisions.

ISDS ensures that a wide range of American businesses — including small businesses — are protected against unfair discrimination when investing abroad. This will benefit the millions of American workers employed by these companies, as outside analysis shows that about half of ISDS cases are initiated by small- and medium-sized businesses, or individual investors.

https://medium.com/the-trans-pacific-partnership/frequently-asked-questions-on-the-trans-pacific-partnership-eddc8d87ac73#.w3c4wzdlh