Good News: Trans Pacific trade deal continues to stall
WASHINGTON, D.C. – Today, at the start of the annual Asia-Pacific Economic Cooperation summit, countries negotiating the TransPacific Partnership failed to produce even a “framework agreement” on the TPP trade agreement. The APEC meeting was supposed to be the latest deadline for completing the TPP deal.
Erich Pica, president of Friends of the Earth, US issued this statement:
“Environmental and public health safe guards received another stay from deregulatory execution after the APEC meetings failed to produce a TransPacific Partnership agreement. It is time to for President Obama to pull the plug on these negotiations and cease his call for Fast Track Trade authority.”
The TPP would threaten sensible environmental and health safeguards, including those related to food safety, and control of dangerous chemicals. It would encourage fossil fuel exports to the Asia –Pacific that would speed up global warming. And it would allow companies to use investment tribunals to assess money damages against governments in the millions or billions of dollars for the cost of complying with things like environmental clean up orders or with restrictions on fossil fuel “fracking.”