New trade warning: International 'tribunal' could junk U.S. laws to help foreign firms

BY: Paul Bedard May 7, 2015 | 11:22 am

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White House hits back at Reid threat to block trade bill

Washington Examiner

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WASHINGTON SECRETS JEFF SESSIONS TRANSPARENCY TRADE PROMOTION AUTHORITYSANDER LEVIN TRANS-PACIFIC PARTNERSHIP TRADE

An Asian trade deal being negotiated in secret by the administration would let an international tribunal overrule state and federal laws to help foreign firms, a new issue congressional and legal opponents are raising in hopes of slowing the race for passage.

"It is really worrisome," said top House Ways and Means Committee Democrat Rep. Sandy Levin. "Countries do not want to give away their jurisdiction away to some arbitrary panel," he added.

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At issue is the pending Trans-Pacific Partnership treaty and a provision called "Investor-State Dispute Settlement," or ISDS, that would let foreign firms challenge U.S. laws, potentially overruling those laws and resulting in fines to be paid by taxpayers. The provisions are becoming common in some trade deals between other nations.