The European Commission has come under renewed pressure to drop investor-state dispute settlements (ISDS) from a trade deal with the US after receiving a record 150,000 responses in a public consultation on the controversial clause.
The EU trade commissioner Karel de Gucht has ordered a public consultation on a legal clause in the emerging EU-US trade agreement that campaigners say could undermine environmental and consumer protection. The legal provision, known as ‘investor-state dispute settlement’, would give companies the right to take legal action against governments if they feel their investment potential or profits are being hindered by regulatory or policy changes at national level. What’s more, such disputes would be judged by special panels made up of people acceptable to business interests, and bypass national laws.
The EEB and T&E have given a cautious welcome today to the formation by the European Commission of a new advisory group on the Transatlantic Trade and Investment Partnership. The formation of the group represents the very first step in what is still a long process of improving the transparency and accountability of the negotiations.