The Country Is Not For Sale
On May 3, Democratic U.S. lawmakers urged the U.S. Trade Representative and State Department to eliminate investor-state dispute settlement provisions from current and future trade deals and to intervene on behalf of Honduras against a U.S. company’s nearly $11 billion claim against the country.
In a letter to Secretary of State Antony Blinken and Trade Representative Katherine Tai, 33 lawmakers said that investor-state dispute settlement (ISDS) systems in trade deals constitute a “problematic corporate handout” that violates countries’ sovereignty and democratic rights.
ISDS mechanisms enable multinational corporations to sue the governments of foreign trading partners for profits they claim have been forfeited as a result of domestic policies designed to protect workers, consumers, and ecosystems.