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Obamatrade would empower foreign companies to use foreign tribunals to enforce special privileges only available to them. Obamatrade would exempt foreign companies from EPA and other onerous regulations that American firms would still be forced to comply with. Under Obamatrade, foreign companies could actually go to an international tribunal and sue American taxpayers for cash awards to compensate them for costs associated with government regulations – something American-owned companies would not be able to do.
There are more than 700 foreign corporations and businesses now operating in our country that would be empowered to skirt our courts and drag the U.S. before UN and World Bank tribunals if Obamatrade were enacted. Obamatrade
would put American businesses in direct competition with government-owned businesses from countries such as communist Vietnam and Malaysia. These government-run enterprises have unfair advantages and set the stage for U.S. government takeover of American businesses such as the government “bailout” of GM.
New Balance, the last American manufacturer of athletic shoes, has said TPP will force it to close its plant in Maine. See the video report below.