The Trans Pacific Partnership (TPP) would take sovereignty away from the American government … and hand it to a bunch of giant corporations, many of them foreign.
It would also take sovereignty away from state, county and local governments …
The attorney general of the State of New York explains:
[TPP’s sovereignty-stripping provisions are] particularly worrisome to those of us in states, such as New York, with robust laws that protect the public welfare — laws that could be undermined by the TPP and its dispute settlement provision.
To put this in real terms, consider a foreign corporation, located in a country that has signed on to TPP, and which has an investment interest in the Indian Point nuclear power facility in New York’s Westchester County. Under TPP, that corporate investor could seek damages from the United States, perhaps hundreds of millions of dollars or more, for actions by the Nuclear Regulatory Commission, the New York State Department of Environmental Conservation, the Westchester County Board of Legislators or even the local Village Board that lead to a delay in the relicensing or an increase in the operating costs of the facility.
The very threat of having to face such a suit in the uncharted waters of an international tribunal could have a chilling effect on government policymakers and regulators.
Or consider the work my office has done to enforce the state of New York’s laws against wage theft, predatory lending and consumer fraud. Under TPP, certain foreign targets of enforcement actions, unable to prevail in domestic courts, could take their cases to TPP’s dispute resolution tribunals. Unbound by an established body of law or precedent, the tribunals would be able to simply sidestep domestic courts. And decisions by these tribunals cannot be appealed.