Here are five things in the TPP that are worse than we’ve been promised:
1. The auto rules of origin are so low that a car or truck could be majority “Made in China” and still qualify for TPP tariff benefits. The 45% nominal TPP car and truck content requirement has loopholes so large you could drive a truck through them. Loopholes such as lower content requirements for certain important car parts. The TPP is an outsourcing deal—not a trade deal.
2. Popular “Buy American” purchasing rules will be watered down. This means the Department of Veterans Affairs, the Department of State and even the Department of Homeland Security will be required to treat bidders from every TPP country as if they were U.S. bidders when making many purchasing decisions. This will send more jobs overseas.
3. More than 9,000 foreign companies will be empowered to bypass U.S. courts and access a private justice system called Investor-State Dispute Settlement (ISDS). This system allows companies to file suit over U.S. federal, state, and local government policies they think are “unfair.” There is no limit on taxpayer funds that can be won by foreign companies in these cases. They get to play the lottery with our democracy and possibly take home billions.
Read the full article from Daily Kos.