The Trans Pacific Partnership (TPP) agreement is so overreaching that it would affect nearly every aspect of American life. It has 29 chapters. 5 chapters focus on reduction of tariffs and specified quotas for certain products, but allows countries to impose Value Added Taxes (VATs) on imports. The remaining 24 concerns domestic regulation of food and product safety, financial regulations, taxes, immigration, intellectual property, and domestic procurement. The TPP overrules all the prior acts by Congress.
According to the TPP, the United States would have to agree to waive Buy America procurement policies for all companies operating in TPP countries. Product labeling will also be affected as country of origin Labeling, labeling of GMO products, and "organic" labeling could be made illegal because of being viewed as an "illegal trade barrier." Even the health warnings on tobacco products could be viewed as an "illegal trade barrier."
The Investor State Dispute Resolution chapter specifies that International Tribunals would be deciding on the lawsuits between companies in member countries or companies and local, state, and federal agencies in member countries, not the U.S. courts. This could cause a financial burden to these companies and agencies to defend themselves from laws and regulations that could be brought against them in for perceived trade restrictions that could cause "potential loss of profits." These agencies could also be liable for damages if the ruling of the International Tribunals goes against them.
The TPP does not address the currency manipulation, product dumping, and government subsidies by the countries that sign on to the trade agreement. Thus, there is no recourse for American companies that are harmed by these practices to address these issues that could cause loss of market share and even drive them out of business.
This session by our expert speaker Michele Nash-Hoff will provide you with knowledge of what needs to be done to stop the Trans Pacific Partnership Agreement from being approved by Congress. It will equip you with the tools and resources that you need to participate in insuring that you have a fair and balanced trade policy in the future.
Who should attend?
Michele is founder and president of ElectroFab Sales, a sales agency specializing in helping manufacturers select the right processes for their products since 1985. Michele has been president of the San Diego Chapter of the Electronics Representatives Association and The High Technology Foundation, as well as several o... More info