Obama Trade Document Leaked, Revealing New Corporate Powers And Broken Campaign Promises
www.huffingtonpost.com, Zach Carter | 13 June 2012, updated: 30 Jan 2015
The leaked document has been posted on the website of Citizens Trade Campaign . . .
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Under the agreement currently being advocated by the Obama administration, American corporations would continue to be subject to domestic laws and regulations on the environment, banking and other issues. But foreign corporations operating within the U.S. would be permitted to appeal key American legal or regulatory rulings to an international tribunal. That international tribunal would be granted the power to overrule American law and impose trade sanctions on the United States for failing to abide by its rulings.
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. . . a tribunal at the World Bank agreed to hear a case involving similar foreign investment standards, in which El Salvador banned cyanide-based gold mining . . . If the World Bank rules against El Salvador, it could overturn the nation’s domestic laws at the behest of a foreign corporation.
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