Like NAFTA (North American Free Trade Agreement)—which shredded millions of jobs from the American economy by allowing US corporations to shift jobs to cheap labor markets overseas—the secret TPP (Trans-Pacific Partnership) pact is designed to even further empower and enrich corporations at the expense of the average American citizen. Americans will get no input or veto power over the TPP. Barack Obama will be rewarded with $200,000 speaking engagements for this sellout, just like Bill Clinton received after he gutted welfare, accelerated mass incarceration, and pushed economic regulations (like NAFTA) which allowed corporations to run wild and which resulted in the crashing of the global economy in 2008.
—Ronald David Jackson
|Illustration by DonkeyHotey.|
Deal Reached on Pacific Rim Trade Pact in Boost for Obama Economic AgendaBy David Nakamura
The United States, Japan and 10 other Pacific Rim nations reached agreement Monday on the largest free-trade accord in a generation, an ambitious effort led by the Obama administration to knit together economies across a vast region.
The deal capped more than five years of arduous negotiations on a project central to President Obama’s economic agenda and potentially hands him a legacy-defining victory late in his presidency.
U.S. Trade Representative Michael B. Froman described the pact as a “historic agreement” that addresses economic and international trade “challenges faced in the 21st century.”
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The deal “helps define the rules of the road for the Asian-Pacific region” for decades ahead, he told journalists.
Negotiators spent a feverish week of talks to find consensus on terms for the Trans-Pacific Partnership (TPP). On Sunday, plans to publicly announce a deal were delayed several times as the parties wrangled over the technical details related to market access for dairy products and new-generation biologic medicines.
“We achieved something that some people thought was unachievable,” said Canada’s envoy in the talks, Trade Minister Ed Fast.
Those are just two sections of a sprawling, multiple-chapter pact that addresses tariff reductions for agriculture and automobiles as well as intellectual-property rights for pharmaceutical drugs and movies, the free flow of information on the Internet, wildlife conservation, online commerce and dispute settlements for multinational corporations.
During the crunch-time talks, the sense of urgency was elevated by elections in Canada this month and the United States next year. Opponents of the deal have staged demonstrations inside and outside a Westin hotel in Atlanta, where the negotiators were meeting.
The Obama administration has cast the accord as a landmark effort to establish new rules of international commerce among a dozen nations at a time when evolving technologies are disrupting old industries and creating new ones.