This is a key moment when business leaders like you can make a major difference. The Trump administration is currently deciding what its trade agenda will look like. Unfortunately, it’s shaping up to be more big wins for multinational corporations at the expense of small businesses, working people, and our planet.
Trump’s draft plan for renegotiation of the North American Free Trade Agreement (NAFTA) includes controversial provisions that grant unjustifiable rights to multinational corporations. These provisions, called the Investor-State Dispute Settlement (ISDS), incentivize offshoring of U.S. jobs and allow corporations to attack U.S. laws and protections for people and the planet.
Sen. Elizabeth Warren is a leading critic of the ISDS: “ISDS undermines the American judicial system and tilts the playing field further in favor of big multinational corporations … This provision empowers companies to challenge laws and regulations they don’t like, with friendly corporate lawyers instead of judges deciding their disputes.”
ISDS allows multinational corporations to bypass domestic courts and directly “sue” our government before an ad hoc panel of three private lawyers over our local, state, and even federal health, environmental, and financial protections.
These lawyers can award the multinational corporations unlimited sums to be paid by taxpayers, including for the loss of anticipated future profits!
We hope you’ll sign the business leaders letter today to oppose the ISDS and to support the legal protections that mean so much for workers, small business, the environment, and our communities.