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Hardy Hewson

WikiLeaks' free trade documents reveal 'drastic' Australian concessions - 0 views

www.theguardian.com/...drastic-australian-concessions

Free-Trade Trans-Pacific Partnership

shared by Hardy Hewson on 19 Oct 14 - No Cached
  • Sungmin Lee on 19 Oct 14
     
    Secret negotiations over the Trans Pacific Partnership (TPP) free trade agreement have apparently been breached by another leak of material which shows Australian consumers could pay more for cancer medicines and face criminal penalties for non-commercial copyright breaches.
  • Hardy Hewson on 21 Oct 14
     
    The article concerns the recent reveal by WikiLeaks of free-trade agreements between the nations of the Trans-Pacific Partnership (members include the United States, Japan, Australia and Singapore). The article states that Australia has made considerable concessions to nations such as Japan and the US by permitting increases in regulation over intellectual property, specifically for cancer related drugs. The new regulation could mean that government permitted monopolies could be extended, meaning patients may be forced to pay more for treatment for longer periods of time.
Haydn W

BBC News - US and EU 'make progress' in free trade area talks - 2 views

www.bbc.co.uk/...business-29482892

BBC EU USA Free Trade

shared by Haydn W on 21 Oct 14 - No Cached
  • US and EU 'make progress' in free trade area talks
  • Officials from the United States and the European Union say they have made progress as they seek to sweep away trade barriers.
  • If successful an agreement would create the world's biggest free trade zone.
  • ...8 more annotations...
  • The planned agreement is known as the Trans-Atlantic Trade and Investment Partnership or TTIP.
  • Mullaney said they have "progressed from discussing general approaches to the spadework of reviewing the many proposals that each side has put on the table."
  • They are trying to do that by eliminating tariffs (taxes on imported goods) and removing what Mr Mullaney called "non-tariff obstacles".
  • But while trade officials get on with detail, some of the general principles continue to generate vocal opposition.
  • Perhaps the most controversial area is the provision for foreign investors to go to an international tribunal for compensation if a government breaks the rules in a way that harms the company's interests.
  • he opposition to this idea has been taken up by the German government, so it remains uncertain whether it would appear in any final agreement.
  • Other critics are concerned that an agreement will drive down standards of consumer protection and food safety and will cost jobs.
  • They also complain that the texts that negotiators are working on are not made public.
  • Haydn W on 21 Oct 14
     
    Talks are taking place between the EU and the USA to create the worlds biggest free trade area. In many goods the US is seen to have an absolute advantage in producing many goods but they also rely on European countries to provide many components to US businesses. This trade deal, although opposed by Unions and other activitists is seen by many to be vastly beneficial to the two parties.
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