New Corporate Powers In Secret Trade Deal

10/12/2013 08:58

"The Obama administration appears to have almost no international support for controversial new trade standards that would grant radical new political powers to corporations, increase the cost of prescription medications and restrict bank regulation, according to two internal memos obtained by The Huffington Post.

The memos, which come from a government involved in the 12-nation Trans-Pacific Partnership free trade negotiations, detail continued disputes in the talks over the deal. The documents reveal broad disagreement over a host of key positions, and general skepticism that an agreement can be reached by year-end. The Obama administration has urged countries to reach a deal by New Year's Day, though there is no technical deadline...".* The Young Turks host Cenk Uygur breaks it down.

More information has become available concerning the Trans-Pacific Partnership, a trade deal that would expand the rights of international corporations and would represent about 40% of the world's GDP . Whistleblowing organization Wikileaks released new documents on Sunday detailing the differing positions of the involved countries and the secret terms of the negotiations. These documents shed new light on the United States' position, and show just how isolated the US is in its quest to push through the TPP. RT's Meghan Lopez gives more details about the information exposed in the documents.

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