Obama Secret Trade Deal is Disastrous!


 

The New York Times on this issue.

 The United States, Japan and 10 other Pacific Rim nations on Monday reached final agreement on the largest regional trade accord in history, teeing up what could be the toughest fight President Obama will face in his final year in office: securing approval from Congress.

Source: NY Times

Making all of this even more horrific is the fact that once signed and approved, it’s very difficult for a country to get out of it because it’s a multinational agreement. One would have to go back to the negotiating table with 11 other nations to make any changes. Congress will balk at that.

But wait, there's more! Typical of everything Obama does, the TPP negotiations have been ongoing in secrecy for five years and are now in their final stages. In the United States the Obama administration plans to “fast-track” the treaty through Congress without the ability of elected officials to discuss or vote on individual measures. This has met growing opposition as a result of increased public scrutiny following WikiLeaks’ earlier releases of documents from the negotiations. And since much of this was done in secret, Congress has additional legal basis to nix it.

The TPP is set to be the forerunner to an equally secret agreement between the US and EU, the TTIP (Transatlantic Trade and Investment Partnership).

Negotiations for the TTIP were initiated by the Obama administration in January 2013. Combined, the TPP and TTIP will cover more than 60 per cent of global GDP. The third treaty of the same kind, also negotiated in secrecy is TISA, on trade in services, including the financial and health sectors. It covers 50 countries, including the US and all EU countries. WikiLeaks released the secret draft text of the TISA’s financial annex in June 2014.

All these agreements on so-called “free trade” are negotiated outside the World Trade Organization’s (WTO) framework. Conspicuously absent from the countries involved in these agreements are the BRICs countries of Brazil, Russia, India and China.

Obama just does not give up trying to find ways to degrade America.

 



Share

32 Comments

Leave a Reply

Pin It on Pinterest