In exchange for some tariff relief, China promised to buy an additional US$200 billion in American goods and services over the next two years and make structural reforms that would provide more protection for U.S. intellectual property. It still leaves about $360 billion in punitive tariffs on Chinese imports in place – and more sanctions would be triggered if China fails to meet the terms of the deal. Continue reading
The U.K. Labour leader said the move, if successful, “could lead to runaway privatization of our health service.”
U.K. Labour leader Jeremy Corbyn on Wednesday unveiled over 450 pages of leaked documents that he said expose British Prime Minister Boris Johnson’s effort to open up the National Health Service to corporate exploitation in trade negotiations with U.S. President Donald Trump.
During a press conference, Corbyn said the Trump administration’s negotiators are “demanding” that the NHS be put “on the table” in talks over a possible post-Brexit trade pact between the U.S. and U.K. Continue reading
Current trade agreements are great at creating more billionaires, not so much at protecting the interests of workers.
On Thursday, President Trump flipped his position on the Trans-Pacific Partnership trade agreement, suggesting the U.S. might want to rejoin the pact. His announcement sent Wall Street indices shooting upward in jubilation and angered labor leaders. It left China—which has been sorting out how to respond to Trump’s announced steel and aluminum tariffs—even more bewildered as criticism grows of its “Made in China 2025” initiative to dominate the high-technology sector.
Trump’s about-face is especially striking given that exiting the TPP was a crucial plank in his economic agenda on the campaign trail and one of his first acts as president. That pledge played well to the frustrations of people who know the global economy is ripping them off and are understandably angry. Continue reading
“In a series of broken promises Trump made to the working people of this country, rejoining the job-killing Trans-Pacific Partnership would be the biggest yet,” warned Sen. Bernie Sanders
As if his enormous tax cuts for the rich, attacks on the safety net, and efforts to help bosses steal their employees’ tips weren’t proof enough, President Donald Trump further demonstrated that he “does not give a crap about working people” on Thursday by telling lawmakers he is considering rejoining the Trans-Pacific Partnership (TPP), a trade pact he withdrew from last year and repeatedly derided as “terrible.”
In a statement responding to the news that Trump has directed his top economic adviser Larry Kudlow and Trade Representative Robert Lighthizer to examine options for reentering the 11-nation accord, Lori Wallach of Public Citizen argued that the president’s move “could bring short term joy to Democratic campaign operatives” but would be yet another signal that Trump “cannot be trusted on anything.” Continue reading
Belgium delegates reached 11th-hour consensus, which grants the Court of Justice of the European Union the ability to rule on final inclusion of ISDS
The controversial Canada-European Union trade agreement that many declared “dead” now appears to be rising from the ashes, as officials announced Thursday that they have reached a last-minute consensus.
Earlier this week, trade delegates from the Belgian region of Wallonia rejected the Comprehensive Economic & Trade Agreement (CETA) out of concern that certain provisions, particularly the Investor State Dispute Settlement (ISDS) system, inflate the power of multinational corporations and undermine standards protecting labor, the environment, and consumers. Continue reading
‘Negotiations with the U.S. have de facto failed, because of course as Europeans we couldn’t allow ourselves to submit to American demands’
Germany’s Vice Chancellor and Economic Minister said that the controversial Trans-Atlantic Trade and Investment Partnership (TTIP) has “de facto failed,” admitting that negotiations between the U.S. and E.U. have completely stalled.
“Negotiations with the U.S. have de facto failed, because of course as Europeans we couldn’t allow ourselves to submit to American demands,” Sigmar Gabriel told the German news station ZDF in an interview that will air at 7pm German time Sunday, according to Der Spiegel. Continue reading
‘This report indicates the TPP will produce almost no benefits, but inflict real harm on so many workers.’
The government’s own assessment of the toxic Trans Pacific Partnership (TPP) shows that the controversial trade deal will produce negligible economic benefits while damaging most Americans’ jobs and wages.
The secret documents represent roughly two-thirds of the latest negotiating text, and in several cases expose for the first time the position of the U.S.
Confirming that the TransAtlantic Trade and Investment Partnership (TTIP) amounts to “a huge transfer of power from people to big business,” Greenpeace Netherlands on Monday leaked 248 secret pages of the controversial trade deal between the U.S. and EU, exposing how environmental regulations, climate protections, and consumer rights are being “bartered away behind closed doors.”
The documents represent roughly two-thirds of the latest negotiating text, according to Greenpeace, and on some topics offer for the first time the position of the United States. Continue reading
Sitting next to Chancellor Angela Merkel during a summit in Germany, U.S. president continued to ignore opponents as he defended controversial agreement with European nations
Despite the tens of thousands of people who marched against the deal in Germany ahead of his arrival and the steady drop in support for such neoliberal trade deals overall, President Barack Obama stood next to Chancellor Angela Merkel on Sunday and defended the Transatlantic Trade and Investment Partnership (TTIP) and said similar past deals have been an “indisputable” benefit to the U.S. economy.
“It is indisputable that [“free trade”] has made our economy stronger,” Obama said during a joint news conference. “It has made sure that our businesses are the most competitive in the world.” Continue reading
Just recently, a WTO panel has ruled that the domestic content requirement (DCR) imposed under India’s National Solar Mission (NSM), is inconsistent with its archaic treaty obligations under the global trading regime. The requirement in question mandates a percentage of components to be sourced locally, to boost homegrown production of solar cells and solar modules. Continue reading