2016 Postmortem
In reply to the discussion: What are 3 things that would make any trade agreement acceptable to those opposing TPP? [View all]pampango
(24,692 posts)Our trade agreements should have labor and regulatory standards similar to those in the International Trade Organization that FDR proposed. And they should have labor and environmental standards similar to those of the EU. (If there is a conflict between the ITO and EU on labor standards, choose the one that is more stringent.)
All participating countries agree to implement these standards as absolute minimum standards in these areas. If they wish to make them more stringent, the agreement will support this 100% - as long as the more stringent standards are applied equally to domestic and foreign companies.
No country will be allowed to weaken any of the standards - and still participate in the benefits of the trade agreement - by claiming a sovereign right to enact lower labor, environmental and regulatory standards in order to be more 'competitive' in world trade. Neutral arbitration will govern cases when countries are accused of not meeting these minimum standards.