The Trans-Pacific Partnership is finished and will be eligible for a vote in Congress in February 2016. In December, the Democrats held a hearing on the Investment chapter of the Trans-Pacific Partnership. In this episode, highlights from that hearing and a summary of the provisions in one of the TPP’s most important chapters.
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Trans-Pacific Partnership Text
- Full Text of the Trans-Pacific Partnership, Office of the US Trade Representative, November 5, 2015.
Hearing Highlighted in this Episode
TPP Issue Analysis – Investment Chapter, House Ways and Means Committee (Democrats), December 2, 2015.
Witnesses
- Matt Porterfield
- Deputy Director and Adjunct Professor of law at the Harrison Institute for Public Law, Georgetown University Law Center
- Served on the State Department’s Advisory Committee on International Economic Policy (ACIEP) Subcommittee on Investment during the Obama Administration
- Ted Posner
- Parter at Weil, Gotshal & Manges LLP, an international corporate law firm with 9 offices in the United States and 11 offices outside the country (see News and Announcements for list of clients)
- Served in the Office of the US Trade Representatives and on the National Security Council during the George W. Bush administration
- Served on the State Department’s Advisory Committee on International Economic Policy (ACIEP) Subcommittee on Investment during the Obama Administration
- Michael Smart
- Vice President of Rock Creek Global Advisors, LLC
- Director for International Trade and Investment on the National Security Council during the George W. Bush administration
- Was a lawyer in the ISDS system as an Associate at Sidley Austin during the George W. Bush administration’s early years
- Was on the Democratic staff of the US Senate Committee on Finance during the early Obama administration years.
- Former staffer to former Rep. Earl Pomeroy for over nine years.
- Thea Lee
- Deputy Chief of Staff, AFL-CIO, which represents 12.5 million American workers.
- Vice Chairwoman of the State Department’s Advisory Committee on International Economic Policy (ACIEP) Subcommittee on Investment during the Obama Administration
Investment Chapter Highlights
- Article 9.4: Countries can’t treat companies from other countries any differently than they treat companies from their own
- Article 9.6: Countries must provide police protection to foreign companies
- Article 9.6: Removal of subsidies does not count as a violation of the treaty, even if the company is financially harmed
- Article 9.7: Countries can nationalize their assets if they pay the companies with interest
- Article 9.9: Countries can not require companies to use domestic goods or to buy products from within the country (“Buy American”)
- Section B: Conflicts between multinational companies and TPP countries will be settled through the Investor-State Dispute Settlement system
- Article 9.20: There is a statute of limitations of three years, six months from when the company should have known a “breach” occurred
- Article 9.21: The three judges will be selected by the company and the government involved (one each) and the third one either agreed upon or appointed by the Secretary General of the International Centre for Settlement of Investment Disputes (ICSID)
- Article 9.22: The tribunal can award attorney’s fees to the case winner
- Article 9.22: The burden of proof lies with the company making the claim
- Article 9.23: ISDS tribunal documents will be available to the public
- Article 9.28: Puts limits on the awards
Sound Clip Sources
- YouTube Video: Last Week Tonight with John Oliver: Tobacco, February 15, 2015.
Additional Reading
- Article: White House Releases Text of Trans-Pacific Partnership trade deal by Vicki Needham, The Hill, November 5, 2015.
- Article: For Pickens, Wind Claim May Be Last Power Play by Alexandra Stevenson, New York Times, October 15, 2015.
- Article: The Trans-Pacific Partnership Trade Accord Explained by Kevin Granville, New York Times, October 5, 2015.
- Op-Ed: Ron Kind: Why I’m Fighting for a Trade Deal by Rep. Ron Kind, LaCrosse Tribune, April 13, 2015
- Article: Bilcon to Sue Canada for $300 Million After Winning NAFTA Ruling on Quarry, The Canadian Press, March 20, 2015.
- Report: The Trans-Pacific Partnership (TPP) Negotiations and Issues for Congress by Ian Fergusson, Mark McMinimy, and Brock Williams, Congressional Research Service, March 20, 2015.
- Report: Reform of Investor-State Dispute Settlement: In Search of a Roadmap, United Nations Conference on Trade and Development, June 26, 2013.
- Article: Michael Froman and the Revolving Door by Felix Salon, Reuters, December 11, 2009.
Music Presented in This Episode
- Intro & Exit: Tired of Being Lied To by David Ippolito (found on Music Alley by mevio)
Cover Art
Design by Only Child Imaginations
