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TPP Signing Ceremony To Take Place In February (freezenet.ca)

Posted by Soulskill on from the it's-not-too-late dept.

Dangerous_Minds writes: New Zealand officials are hoping that the TPP signing ceremony is to take place in February in Auckland, New Zealand. According to the New Zealand Ministry of Foreign Affairs and Trade, it is expected that all 12 countries are going to sign the controversial Trans-Pacific Partnership (TPP). Those 12 countries are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the U.S., and Vietnam. Note: signing doesn't necessarily make the agreement law, but it is one critical step closer to ratification.

1 of 192 comments (clear)

  1. This will be a disaster by humptheElephant · · Score: 4, Interesting

    Just look at what's happening under NAFTA. A Canadian Company (Trans Canada) is suing the US for 15 billion because we stopped the Keystone pipeline (http://www.democracynow.org/2016/1/7/transcanada_sues_the_us_for_15b). This means that a private corporation from a TPP country can sue the US or another trade partner and have it tried by a panel corporate representatives. The amount can be not only the cost of a project, but also the expected profits. For example, with the Keystone lawsuit, the cost of the pipeline is 3 billion and the expected profits 12 billion. So the US taxpayers are on the hook for the 15 billion if TransCanada wins.