Skip to comments.Leaked Pacific Trade Pact Exempts Foreign Firms From U.S. Law?
Posted on 06/16/2012 8:42:13 AM PDT by Son House
Americans for Limited Government President Bill Wilson today issued the following statement reacting to a leaked version of the Trans-Pacific Partnership trade pact with Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, and Vietnam:
These new trade agreements will place domestic U.S. firms that do not do business overseas at a competitive disadvantage. Based on these leaked documents, foreign firms under this trade pact could conceivably appeal federal regulatory and court rulings against them to an international tribunal with the apparent authority to overrule our sovereignty. If foreign companies want to do business in America, they should have to follow the same rules as everyone else. No special favors.
It is telling that the only apparent way these Pacific nations will enter a free trade agreement with the U.S. is if they are exempt from our onerous environmental and financial regulations that make it cost-ineffective to do business here. Instead of making these foreign firms exempt from these burdensome rules, they should just repeal the regulations and make it cheaper to do business here.
This poses an even wider problem, though. Obama is negotiating a trade pact that would constitute a judicial authority higher than even the U.S. Supreme Court that could overrule federal court rulings applying U.S. law to foreign companies. That is unconstitutional. The U.S. cannot be allowed to enter a treaty that would abrogate our Constitution.
This tribunal needs to be removed from this agreement, and no foreign company doing business on our soil should have a competitive advantage, created by some a dumb agreement, over American companies. What is Obama thinking? He is placing international organizations above the interests of our own country.
Now, Obama is swinging into full anti-American gear — you are starting to see the REAL agenda to bring down America.
This is no joke. This clear and present danger to America MUST be stopped now.
This makes sense. Shouldn't foreign firms have the same advantage over Americans and American firms as the foreigner (whether literal or just cultural) occupying our White House? Obama has already exempted himself from following US law in a broad range of areas, including most recently enforcing immigration law. This story just says that he's "spreading the wealth around" so that everyone who doesn't see themselves as American will benefit from his personal exemption.
What is different is that Obama is on board.
The leftwingers gave Obama a walk on Panama and Korea because those FTAs were pending when he entered office.
Now the left wingers are up in arms over the TP FTA.
Its a two way street. US firms are exempted from laws in these foreign countries.
The Investor Protections will often overide those laws or regulations. This is to protect the investors from creeping regulations because creeping regulations are taxes masquerading as regulations.
Just an extension of Free Trade Agreements that Bush I, Clinton, and Bush II were so found of. They all over rode our immigration law and turned disputes regarding visas over to the unelected bureaucracy of the WTO.
oops forgot to add not only visa, but other areas that involve our national sovereignty.