EU-US trade deal to include 'corporate bill of rights'
Controversial rights for multinational corporations to sue states, likely to be included in the Transatlantic Trade and Investment Partnership (TTIP), are causing a political headache for EU and US negotiators, but may also set a precedent for future trade agreements, notably with China.
"Politicians might think they are acting in the interests of ‘their' investors overseas, but they are in fact exposing themselves to predatory legal action from corporations,” according to NGO Corporate Europe Observatory's Pia Eberhard, who wrote a report on the issue, "A Transatlantic Corporate Bill of Rights", in June.
Warning over litigation boom
Co-authored with the Transnational Institute (TNI), Eberhardt’s report warned that the volume of transatlantic investment, with both partners accounting for more than half of foreign direct investment in each others' economies, hints at the sheer scale of the risk of such litigation wars.
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