Obama Faces Backlash Over New Corporate Powers In Secret Trade Deal
Posted: 12/08/2013 6:24 pm EST | Updated: 12/09/2013 10:51 am EST
WASHINGTON — 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.
One memo, which was heavily redacted before being provided to HuffPost, was written ahead of a new round of talks in Singapore this week. Read the full text of what HuffPost received here. (Note: Ellipses indicate redacted text. Text in brackets has been added by a third party.) Another document, a chart outlining different country positions on the text, dates from early November, before the round of negotiations in Salt Lake City, Utah. View the chart here. HuffPost was unable to determine which of the 11 non-U.S. nations involved in the talks was responsible for the memo.