Title
Opposing the granting of "Fast Track" trade promotion authority by the United States Congress to the President of the United States, which authority threatens to undermine, if not destroy, the power of municipalities and States to protect their police and regulatory powers against the demands of foreign corporations.
Body
WHEREAS, Fast Track "Trade Promotional Authority" (TPA), soon to be voted on in the United States Congress, circumvents democratic procedures by eliminating Congress' right to amend trade agreements submitted to it for approval by the President, thereby also sharply limiting citizen input into Congressional deliberations on trade issues; and
WHEREAS, Trade agreements negotiated in recent years have severely constrained the exercise of local government authority to protect the health and welfare of local residents; and
WHEREAS, For example, Chapter 11 of the North American Free Trade Agreement ("NAFTA") has provisions which allow investors to seek monetary compensation from a signatory government through international arbitration if that government, or any of its subdivisions, such as cities or states, "expropriates" the investor's investment; and
WHEREAS, There is no clear definition of "expropriates" in NAFTA; and
WHEREAS, The nature of international arbitration is such that municipalities and the public are not allowed to participate in the process, although they may be deeply affected by the result; and
WHEREAS, Due to the lack of transparency of the arbitration process under NAFTA and the lack of a clear definition of "expropriates," claims made pursuant to Chapter 11 of NAFTA may sharply penalize, if not eliminate, the legitimate police power of local governments; and
WHEREAS, Negotiations are now in progress to finalize a variety of new trade agreements, including creation of a Free Trade Area of the Americas (FTAA) among 34 nations of the Western Hemisphere, creation of bilateral agreements such as a U.S.-Chile...
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