EU MPs for change to US trade deal

AFP, STRASBOURG: European Union lawmakers demanded yesterday that a proposed free trade deal with the United States drop a US-backed private dispute settlement system in favour of public procedures in open court.
The European Parliament has held up the progress of negotiations on the Transatlantic Trade and Investment Partnership (TTIP) over Washington’s insistence that private companies be allowed to sue governments before special tribunals.
Many members of European Parliament (MEPs) believe that the Investor-State Dispute Settlement (ISDS) system—a feature in other US trade deals—would allow commercial interests to force governments to change policy, undercutting democratic oversight. Lawmakers yesterday approved a recommendation to negotiators, fearful they could give too much away to their US counterparts in pursuit of what would be the world’s largest free trade deal.

EU MPs for change to US trade deal

AFP, STRASBOURG: European Union lawmakers demanded yesterday that a proposed free trade deal with the United States drop a US-backed private dispute settlement system in favour of public procedures in open court. The European Parliament has held up the progress of negotiations on the Transatlantic Trade and Investment Partnership (TTIP) over Washingtons insistence that private companies be allowed to sue governments before special tribunals. Many members of European Parliament (MEPs) believe that the Investor-State Dispute Settlement (ISDS) systema feature in other US trade dealswould allow commercial interests to force governments to change policy, undercutting democratic oversight. Lawmakers yesterday approved a recommendation to negotiators, fearful they could give too much away to their US counterparts in pursuit of what would be the worlds largest free trade deal.