Canada has now officially become a founding member of the Trans-Pacific Partnership, with the TPP agreement finally now coming to a close. The TPP is a 12-country trading block that sounds good on the surface, but in the end it could pose a threat to the market and tax-payer. The new agreement many say will pose a threat to national sovereignty, it allows for corporations to sue taxpayers, and those aren't the only worries. The deal was negotiated in complete secrecy behind closed doors, and the Canadian citizenry had little to say about it; as did the citizens of the other 11 nations involved in the deal.
The new TPP agreement offers more protection to corporations, in that it allows them to sue a nation for actions that undermine their investment expectations and hurt their business. For example, at least 17 countries in Europe have started the move to ban GM crops for good, but now that the TPP has passed it would allow Monsanto and such companies to sue those who refuse to allow their products into the market. These cases wouldn't be dealt with in the regular system either, they would be sent before tribunals.
This legislation strips nations of their representative governments, by placing a priority on corporate profits over the welfare of citizens. This TPP has the power to override Canadian law, and the laws of the other countries involved with the deal as well. The agreement is clearly geared toward protecting the profits of corporations, and it's unclear how it improves or benefits the standard of living for everyday citizens. Many see this agreement as an illegal transfer of power, in that it will erode the sovereignty of those nations involved.
We've covered the TPP here extensively at Press For Truth, and if you have not yet had the chance, please check-out our videos below on the topic:
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