TACD has submitted a response on behalf of consumers to a European Commission (EC) consultation on the Investor-State Dispute Settlement (ISDS) provisions in the proposed EU-US free trade agreement, the Transatlantic Trade and Investment Partnership (TTIP).
ISDS is a private enforcement mechanism that has been included in a number of other international free trade agreements and investment treaties. It allows companies to mount legal challenges against governments and challenge laws and regulations that they believe violate so-called ‘investor rights’. These cases are heard in tribunals that operate entirely outside national court systems, and behind closed doors.
TACD believes that the trade agreement should not include ISDS provisions as they would allow companies to bypass the highly developed judicial systems of the US and EU and challenge laws enacted by democratically-elected governments to protect their citizens and consumers.