The Trans-Pacific Partnership (TPP) is a corporate power grab, a 5,544-page document that was negotiated in secret by big corporations while Congress, the public, and unions were locked out.
Multinationals like Google, Exxon, Monsanto, Goldman Sachs, UPS, FedEx, Apple, and Walmart are lobbying hard for it. Virtually every union in the U.S. opposes it. So do major environmental, senior, health, and consumer organizations.
This agreement has virtually nothing to do with trade since tariffs between the twelve nations of the TPP are at historic low. This agreement is really about exporting jobs, raising prices and more bonuses for the 1 percent at the expense of the 99 percent.
The TPP will mean fewer jobs and lower wages, higher prices for prescription drugs, the loss of regulations that protect our drinking water and food supply, and the loss of Internet freedom. It encourages privatization, undermines democracy, and will forbid many of the policies we need to combat climate change.
The worst part is the Investor-State Dispute Settlement provision, which allows a multinational corporation to sue to override any U.S. law, policy, or practice that it claims could limit its future profits. Secret panels of corporate lawyers and corporate lobbyists will decide these cases. Their judgments cannot be appealed, not even to the Supreme Court.
This provision will override your votes on the state and local levels. In other words, President Obama and Wall Street Senator Ron Wyden intend to suppress your voting rights, along with most of the Republican Party led by Paul Ryan, Mitch McConnell and Orrin Hatch.
Though the Obama administration touts the pact’s labor and environmental protections, the official Labor Advisory Committee on the TPP strongly opposes it, arguing that these protections are largely unenforceable window dressing.
On behalf of Wall Street and rich investors throughout the United States, President Obama is planning to call for a vote on the TPP in the US senate and the US House after the elections in November. Obama signed the TPP, a despicable income and political power redistribution scam, months ago. Wall Street Senator Ron Wyden will likely introduce the TPP in the senate. Wyden is Obama’s and Wall Street’s attack dog in the US senate in their war against the middle class. He has voted to redistribute trillions of dollars from the 99 to the 1 percent over the course of the his career in congress.
To learn more about the TPP, check out Citizen’s Trade Campaign, and Public Citizen’s Global Trade Watch, Public Citizen. For labor-specific resources, try CWA, http://stopthetpp.org/, and the AFL-CIO, http://www.aflcio.org/Issues/Trade.