Source:4-traders 2014-1-2 9:15:00
American negotiations taking place in Singapore about the Trans Pacific Partnership are so secretive that even those close to President Obamacannot receive information. The U.S. and 11 other Pacific Rim countries are nearing the end of ten-year talks which could limit tariffs, reduce regulations, and make for "fast tracked" free trade without congressional oversight.
Those countries who make up the Trans Pacific Partnership (TPP) with America are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico,New Zealand, Peru, Singapore, and Vietnam. Each has signed a "confidentiality agreement." The Washington Post cites Wikileaks and other sources showing that the partnership intends to further restrict access to any of its final agreements.
The Peterson Institute for International Economics states that if TPP passes it will increase revenue in the U.S. by $78-to-267 billion per year. In a nutshell, the Post says that Republicans generally support the agreement and Democrats oppose it. Companies like Exxon-Mobile andDow Chemical are in support. Chevron say that the oil industry can expand on the 9.8 million jobs it supports nationwide. It could positively affect San Bernardino since more jobs would be needed to manage supplies coming through in trucks, rail, and air cargo via the ports of San Diego and San Pedro.
If approved, it will give companies like tobacco and mining industries the expanded right to sue governments for restricting their ability to make a profit. The Sierra Club sites the case where the Renco Group is suingPeru for $800 million because the American firm feels Peru's anti-pollution laws are prohibiting its profit. Those suits were allowed under the North America Free Trade Agreement and the TPP would take it further. It could make nations liable to tobacco firms for the lack of business due to antismoking campaigns.
Groups like the Sierra Club agree that the TPP would give foreign business too much chance at commercial and environmental exploitation.Jane Hunt of Muscoy, a student of social affairs for 40 years, says that she is concerned about her inability to learn about TPP. "The first thing I thought about was it would allow Monsanto to sell more of its genetically modified seeds. The TPP is too secretive and is not talked about in the news," said Hunt. "I have learned that it would do away with food safety, pricing and laws protecting our environment. If it passes, you can kiss everything that we've worked for in this country goodbye. It sounds very scary."
The usually well informed Inland Empire Economic Partnership did not return two phone calls as promised about the TPP. The Department of Economics at the University of Redlands was contacted and admitted not knowing about TTP but offered to research. Walter Chatfield, faculty chair of economics at San Bernardino Valley College, said he did not know about TPP.
Mayo C. Toruno, Department of Economics Chair, Cal State University, San Bernardino admitted not knowing much about TPP but had read occasional pieces from economists who are skeptical of its provisions and presumed benefits. Toruno promised to forward information. He did send articles including one written by Mark Weisbrot from the Center for Economic Policy and Research.
Weisbrot writes that American citizens would not benefit from the TTP, saying it basically protects our giant pharmaceutical and financial corporations to gain monopolies in developing countries . Weisbrot quotes Wikileaks by saying that the U.S. is pushing for TPP provisions that would even allow for exploratory surgical procedures to be patented, even though they may be against U.S. law.
Weisbrot and others feel that one of the main goals of TPP is to isolateChina's dominance of world trade, especially in the biotech industry. He says that all recent trade agreements that the U.S. has signed has helped raise prices. Weisbrot calls the TPP worse than others America has signed with the World Trade Organization.
All of these measures will help raise the price of medicines and health care, which will strain public health systems and price some people out of the market for important medicines," writes Weisbrot. Information leaked to the Washington Post claims one of the sticking points to passage of TPP is the reluctance to be forced to accept American automobiles.