, Columnist
Every Trade Deal Needs a Referee
Critics complain that the Trans-Pacific Partnership would give companies too much power. Here's why they're wrong.
What's not to like?
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
While the economic arguments for freer trade are strong, many people remain skittish about proposed trade deals involving the U.S., Asia and Europe. In particular, critics are focusing on provisions of these deals that set up tribunals to rule on disputes between governments and companies.
The critics charge that these Investor-State Dispute Settlement panels would have too much power to elevate corporate interests over the democratic will under the pretext of enforcing trade rules, and would allow companies to unjustly sue governments.