"t he "trade" branding of these deals serves as a Trojan horse. Their big effect would be to considerably strengthen intellectual property rights (benefitting the medical-industrial complex, technology companies and Hollywood) while substantially weakening national sovereignity by allowing foreign investors to sue governments for lost potential profits as a result of national laws and regulation, such as environmental, labor, or consumer protection.'
In an event with labor officials on Capitol Hill today, Pelosi delivered her strongest statement yet of opposition to the bill that would grant the Fast Track Authority sought by the administration to negotiate a sweeping free trade deal with a dozen Pacific countries. The bill -- co-sponsored by Dem Senator Max Baucus and GOP Rep. Dave Camp -- is strongly opposed by labor, liberal groups and many Congressional Dems.
"No on Fast Track -- Camp-Baucus -- out of the question," Pelosi said, according to a transcript of her remarks forwarded to me by her office. She also told assembled steelworkers: "We cannot support Camp-Baucus. We cannot support Camp-Baucus."
This marks a significant hardening of Pelosi's opposition to the Fast Track Authority bill. It doesn't entirely rule out the possibility that she could support some version of Fast Track at some point, if its terms are overhauled to deal with her concerns about job loss from currency manipulation, and to create much more transparency around negotiations and give Dems much more input into them. But it creates a hurdle to the free trade measure, because it will be difficult to meet the conditions for supporting Fast Track that Pelosi is now laying down.
" Fast track authority is necessary to pass TPP because so many awful things are within it that it would be very difficult drive it through Congress any other way. But the game is far from over, so much is on the line that it's unlikely the corporate forces behind TPP will accept defeat so easily."