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Wednesday, December 9, 2015

Most Trade Advisory Committees Back TPP

Nearly all of the president’s Advisory Committees on Trade Policy and Negotiations have come out in favor of the Trans-Pacific Partnership (TPP) trade deal – with the distinct exceptions being the committees made up of labor unions and their allies and one which represents the pharmaceutical sector.
The president’s Advisory Committees on Trade Policy and Negotiations are charged with reviewing each trade deal reached by U.S. negotiators and decide if they believe the deal is in the best interest of their respective sectors. There are 26 panels representing industrial sectors and other stakeholders including labor unions and each report their individual findings back in a report to the president.
The two groups which either didn’t support or actively opposed the TPP deal as written represent two of the more contentious parts of the deal, labor and pharmaceutical interests. Labor interests are opposed to the deal on the grounds that they believe it will result in the outsourcing of U.S. labor to lower-wage nations, while the pharmaceutical industry is concerned with intellectual property and data protection provisions of the deal for biologic drugs.
The committee representing the services and finance industries voiced concern with the prohibition of forced localization of servers and data storage, which specifically exempts the financial services sector, but still supports the deal on balance.