The price was too high for the TPP:
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Many provisions of TPP have little to do with trade per se. They simply promote the interests of powerful global industry groups and use legal and political mechanisms to limit true competition in the market place. For example:
*Provisions of SOPA, the so-called "Stop Online Piracy Act" which was rejected last year by Congress. SOPA would give a competitive advantage to the film industry and other content-creators while restricting innovation on the internet.
*Provisions that would extend patent protection on pharmaceuticals while restricting governments from negotiating lower prices.
*Provisions that would privilege major banks and financial institutions over credit unions and the emerging sector of public banks.
*Provisions that would disadvantage organic farmers and others who adopt safer and more environmentally-sound agricultural practices.
*Provisions that would extend the dominance of coal and oil and hinder alternative energy producers, by blocking regulations and limiting deployment of smart grid and other infrastructure.
Attack on Local Economic Development Programs
According to leaked drafts, the proposed pact would ban state and local governments from extending preferences to vendors of locally-produced goods and services. "Buy American" programs would be forbidden. Local employers could not be supported. Local farmers could not be favored.
Threat to the Triple Bottom Line
Many jurisdictions have policies to promote opportunity and ameliorate the severity of market forces. These include minimum wage laws, laws requiring employers to offer health insurance, regulations covering product safety, work-place safety, environmental protection, and more. All of these protections are at risk under the TPP. For example, the pact would prevent communities from deciding whether or not they want fracking in their area.
A New International Court where Corporations Sue Governments
Once the TPP is signed, government entities at all levels in the participating countries will have to change their policies to conform to the agreement. This means dismantling any regulations, safeguards or incentives they have enacted to support their economies and provide better lives for their citizens. A system of tribunals will be set up to hold governments to account. Corporations could sue governments to demand the relaxation of standards, and could claim damages from governments that failed to conform. Under NAFTA, a similar tribunal system has already levied fines of hundreds of millions; under TPP this would expand greatly.
http://www.usnews.com/opinion/blogs...ow-against-growth-and-sustainable-development
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