Lima, Peru | Monday 01 December 2008 18:14 | |
* Fails to alter the outrageous NAFTA “Chapter 11” foreign investor privileges that create incentives for U.S. firms to move offshore and expose our most basic environmental, health, zoning and other laws – policies strongly advocated for by Democrats – to attack in foreign tribunals.
* Does absolutely nothing to address bans on “Buy America” and anti-offshoring policies that safeguard American jobs and that Democrats have continually fought to expand and preserve.
* Does nothing to fix the Peru FTA terms that would allow Citibank or other U.S. investors providing “private retirement accounts” to sue Peru if the country reverses its failed social security privatization. This deal helps lock Peru into the same privatized social security system that Democrats have been fighting against in the United States.
* Rolls back the most extreme CAFTA-style drug patent rules to NAFTA-era language. However, the NAFTA language itself undermines rights available under World Trade Organization patent rules. Thus, while the amended text is better than CAFTA, it limits developing country trade partners’ rights relative to their status without the new limits that would be imposed by the FTAs, increasing the cost of medicine for our trading partners – costs that Democrats are trying hard to contain for our own healthcare system.
* Fails to change the food import standards as needed so that only food meeting U.S. standards would be allowed.
* Does nothing to address the NAFTA-style farm rules that resulted in 1.3 million Mexican peasant farmers losing their livelihoods. This is predicted to create dislocation and misery for large numbers of people, increase production of cocaine and cause instability in developing country trade partners.
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Peru's PNP to protest FTA today (by LIP, Jun 26, 2007) |
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