The U.S. cuts an ugly deal on Trans Pacific trade agreement
Ironically results in “a big win for people and the planet”
WASHINGTON, D.C. – Today in Atlanta, Georgia the United States and 11 other Pacific Rim countries reached agreement on the Trans Pacific Partnership, a sweeping trade deal that, if adopted, would stymie environmental regulation and ramp up U.S. exports of climate-destroying fossil fuels.
The TPP deal was cut behind closed doors by Mike Froman, the U.S. Trade Representative and former Citi bank executive and Obama fundraiser. Froman faced a Hobson’s Choice in Atlanta: he could either close the deal by caving in to Japan and other negotiating partners, or he could walk away, , maybe losing his last chance for a deal with Japan. . Froman chose to roll the dice and take the only deal he could get, making major concessions on autos, dairy and sugar and other issues, but preserving Wall Street’s demands and securing intellectual property protections for Big Pharma that will deny millions access to life saving drugs.
Erich Pica, President of Friends of the Earth had this statement.
Ambassador Froman struck an ugly deal in Atlanta and is going to have a hard time selling this to Congress and the American people. The compromises that struck will further enrage environmentalists and other progressive opposition, and threatens to undermine the razor thin majority that gave President Obama Fast Track trade authority. Friends of the Earth urges our members and members of Congress to oppose this bad deal.