Senators Elizabeth Warren and Ed Markey (D-Mass.) and Tammy Baldwin (D-Wis.) warned U.S. Trade Representative Michael Froman that the Trans-Pacific Partnership trade deal will make it harder to stop shaky Wall Street dealings in the future, the kind that caused the economy to tank during the Great Recession in 2008.”With millions of families still struggling to recover from the last financial crisis and the Great Recession that followed, we cannot afford a trade deal that undermines the government’s ability to protect the American economy,” they wrote. Read more about their action here
.The three senators specifically criticized the Investor State Dispute Settlement (ISDS) process that gives foreign corporations the political power and special rights to challenge the laws and regulations of a TPP-participating country in a secret international tribunal.Including these ISDS provisions in TPP would “expose a broad array of critical American financial regulations to challenge by many additional foreign companies,” they wrote.
CWA and partners, including Sierra Club, Citizens Trade Campaign, immigration groups and others, are gearing up for the fight of our lives when the new Congress begins in January.