The Trans-Pacific Partnership (TPP) is a trade deal that is being negotiated completely in secret. The main actors at the table are large corporate interests like Wall Street banks, multinational drug companies, and oil and gas companies. This might lead one to think that the end product will be an agreement that furthers the upward redistribution of income rather than benefits the bulk of the population. That seems especially likely since this is a “next generation” trade agreement that is primarily about regulations, not reducing traditional trade barriers like tariffs and quotas.
The result is likely to be a deal where corporations will use the trade agreement to block restrictions on their behavior that might otherwise be imposed by democratically elected governments. For example, the financial industry might use the deal to prohibit Dodd-Frank type restrictions that prevent the sort of abuses that led to the financial crisis. The oil and gas industries might use the deal to prohibit environmental restrictions on fracking. And the pharmaceutical industry might push for stronger patent-type protections. These will raise the price of drugs (like a tax) and slow economic growth.
Bizarrely, the NYT editorialized in favor of the TPP, concluding its piece:
“A good agreement would lower duties and trade barriers on most products and services, strengthen labor and environmental protections, limit the ability of governments to tilt the playing field in favor of state-owned firms and balance the interests of consumers and creators of intellectual property. Such a deal will not only help individual countries but set an example for global trade talks.”
Yes, boys and girls, Goldman Sachs, Exxon-Mobil and Pfizer will put together a deal that does all these things. This is serious?
Help us Prepare for Trump’s Day One
Trump is busy getting ready for Day One of his presidency – but so is Truthout.
Trump has made it no secret that he is planning a demolition-style attack on both specific communities and democracy as a whole, beginning on his first day in office. With over 25 executive orders and directives queued up for January 20, he’s promised to “launch the largest deportation program in American history,” roll back anti-discrimination protections for transgender students, and implement a “drill, drill, drill” approach to ramp up oil and gas extraction.
Organizations like Truthout are also being threatened by legislation like HR 9495, the “nonprofit killer bill” that would allow the Treasury Secretary to declare any nonprofit a “terrorist-supporting organization” and strip its tax-exempt status without due process. Progressive media like Truthout that has courageously focused on reporting on Israel’s genocide in Gaza are in the bill’s crosshairs.
As journalists, we have a responsibility to look at hard realities and communicate them to you. We hope that you, like us, can use this information to prepare for what’s to come.
And if you feel uncertain about what to do in the face of a second Trump administration, we invite you to be an indispensable part of Truthout’s preparations.
In addition to covering the widespread onslaught of draconian policy, we’re shoring up our resources for what might come next for progressive media: bad-faith lawsuits from far-right ghouls, legislation that seeks to strip us of our ability to receive tax-deductible donations, and further throttling of our reach on social media platforms owned by Trump’s sycophants.
We’re preparing right now for Trump’s Day One: building a brave coalition of movement media; reaching out to the activists, academics, and thinkers we trust to shine a light on the inner workings of authoritarianism; and planning to use journalism as a tool to equip movements to protect the people, lands, and principles most vulnerable to Trump’s destruction.
We’re asking all of our readers to start a monthly donation or make a one-time donation – as a commitment to stand with us on day one of Trump’s presidency, and every day after that, as we produce journalism that combats authoritarianism, censorship, injustice, and misinformation. You’re an essential part of our future – please join the movement by making a tax-deductible donation today.
If you have the means to make a substantial gift, please dig deep during this critical time!
With gratitude and resolve,
Maya, Negin, Saima, and Ziggy