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One of the TPP sections that concerned me the most was where corporations could sue nations for passing legislation that detrimentally affected their business (
by evolve2k 10y ago
One of the TPP sections that concerned me the most was where corporations could sue nations for passing legislation that detrimentally affected their business (think countries passing environmental restrictions on companies). My concern was greatest that US companies would do this to other nations, like Australia where I am.
I'm assuming now that US companies won't be able to do this, but is the TPP still binding between the rest of the ratified countries?
- ameister14 10y ago>One of the TPP sections that concerned me the most was where corporations could sue nations for passing legislation that detrimentally affected their business (think countries passing environmental restrictions on companies). This is not what the TPP said. Corporations can already sue nations. The TPP defined an arbitration system, one that nations have a long, long history of winning in.
- euyyn 10y ago> think countries passing environmental restrictions on companies I don't think that was ever true about TPP to start with.
- evolve2k 10y agoI could well be wrong, but my understanding was that it was an issue. This for example: https://www.washingtonpost.com/opinions/kill-the-dispute-settlement-language-in-the-trans-pacific-partnership/2015/02/25/ec7705a2-bd1e-11e4-b274-e5209a3bc9a9_story.html?utm_term=.d3a016106fe8 https://www.washingtonpost.com/opinions/kill-the-dispute-set...
- euyyn 10y agoThe Senator says: "ISDS would allow foreign companies to challenge U.S. laws." But my understanding is it can't be used to challenge any law whatsoever. Could be wrong (although the latter makes sense, while the former doesn't).