Honduras is facing at least US$14 billion in claims brought against it by corporations to protect their profits at the expense of people and the environment — a practice that applies across Latin America, reports Tamara Pearson.
Investor-state dispute settlement (ISDS)
Negotiations on the Trans-Pacific Partnership (TPP) were finally completed in Atlanta on October 5. Final agreement on the treaty had been delayed for years as negotiating countries tried to protect their own industries while trying to gain market access in others.
The TPP was negotiated by countries on the Pacific Rim: the US, Australia, Singapore, New Zealand, Chile, Brunei, Canada, Malaysia, Mexico, Peru, Vietnam and Japan. These countries represent about 40% of global GDP.
Australia signed a free trade agreement with China on November 17. The Coalition government and the media praise the agreement, but other groups are concerned about the implications.
More than 85% of Australian exports will be tariff free initially, rising to 93% in four years. Some of these goods are subject to tariffs of up to 40%. On full implementation of the China-Australia Free Trade Agreement, 95% of Australian exports to China will be tariff free.