Trade Deals

Trade deals like NAFTA (North America Free Trade Agreement), CETA (Canada-European Union: Comprehensive Economic and Trade Agreement) and TPP (Trans-Pacific Partnership) do not increase worker prosperity as advertised.

Note how both the Canadian and American manufacturing sectors have collapsed. Wages drop to the lowest denominator. Jobs move to the country with the lowest wages, lowest safety standards and lowest environmental standards.

The trade agreements are designed to increase only corporate prosperity. The agreements guarantee profits for corporations. If a country does anything, e.g. ban a carcinogen, hire local workers, tighten environmental regulations…, that reduces corporate profits, the corporations can sue the country to compensate them for their reduced profit.

Normally corporations have to gamble on what will be profitable. Now countries give them free success insurance. As a result, Canada is the most sued nation on earth.

All the negotiations are secret as is dispute resolution. Only corruption can explain why negotiators would put such onerous conditions on themselves into the agreements.

~ Roedy (1948-02-04 age:69)