More US jobs will be sent offshore
For the past 20 years since NAFTA (the North American Free Trade Agreement NAFTA), the U.S. has lost millions of jobs. Corporations are lining up to send manufacturing jobs to Vietnam, where the average hourly wage is less than $1, and there are no workers’ rights or environmental standards.
TPP will push service jobs overseas too, like call center jobs and information technology work. At least 25 percent of U.S. jobs can be moved offshore.
The promise: NAFTA would create 200,000 new jobs.
The reality: 682,900 jobs lost.
The promise: The U.S.-Korea Free Trade Agreement would create 70,000 new jobs.
The reality: 40,000 jobs lost.
Foreign corporations get veto power over U.S. laws and government action
TPP will protect and guarantee profits for multinational corporations, at our expense. It gives corporations special rights to challenge U.S. laws or regulations that threaten the corporation’s “future expected profits.” These challenges are heard in an overseas secret tribunal, not accountable to any government.
Corporations can sue if a country raises its minimum wage, like Egypt did, or adopts regulations to protect the public health, like Australia. There are more than 500 cases now pending.