Leaked TPP investment chapter: Corporations can sue states in private courts — RT USA

Screenshot from https://wikileaks.orgScreenshot from https://wikileaks.org

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Asia, Politics, South America, Trade, USA

The recently leaked chapter from the US-led Trans-Pacific Partnership Free Trade Agreement (TPP) allows firms to sue the countries they are operating in via private courts, steering clear of national jurisdictions, WikiLeaks reported.

READ MORE: Democrats to fight Obama on secret trade deal authorization

The chapter, which was completed on January 20, was verified by the Public Citizen organization that was present during secret negotiations in March, teleSUR reported.

The 55-page document discusses various mechanisms that enable companies involved in transnational corporation investment to sue the states they operate in without the involvement of national courts.

READ MORE: Anti-trade deal protesters hijack Senate TPP hearing

Companies can file a lawsuit if they believe to be losing profit or even have a lower expectation of profit due to changes in the “environmental, health or other regulatory objectives,” according to the leaked document.

Moreover, if a foreign firm feels that a new law passed by a state impacts its rights under the TPP agreement, it could challenge the country’s decision in the private arbitration system, the investor-state dispute settlement (ISDS).

via Leaked TPP investment chapter: Corporations can sue states in private courts — RT USA.

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