Today the House of Commons will get an opportunity to debate the EU-US TTIP trade deal. A briefing paper for MPs, prepared by the House of Commons library, states the aims of the Transatlantic Trade and Investment Partnership deal are ‘to increase trade and investment between the US and EU by reducing tariffs (particularly on agricultural products), aligning regulations and standards, improving protection for overseas investors, and increasing access to services and government procurement markets by foreign providers.’
Ever since the negotiations on this controversial trade deal were launched in 2013, I have been of the view that TTIP is nothing more than a corporate charter. By focusing on harmonising product regulation and standards and protecting the rights of investors it risks undermining Europe’s high standards in labour rights, environment, food safety and animal welfare. The Investor State Dispute Settlement (ISDS) is one of the most controversial aspects of the deal as it would allow corporations the right, through tribunals outside the domestic legal system, to challenge democratic decisions taken in the public interest, where these threaten corporate profits. Fearful of being sued by corporations, this could prevent governments implementing public policy for the common good.
Content from our partners
