The North American Free Trade Agreement (NAFTA) is a 1994 deal between the United States, Canada and Mexico. At its heart are special rights and privileges for corporations that help them outsource jobs and attack domestic environmental and consumer protections.
NAFTA has resulted in the loss of more than one million U.S. jobs, the displacement of millions of Mexican small farmers and downward pressure on wages in both nations. Multinational corporations have extracted hundreds of millions in taxpayer funds after attacking our laws before NAFTA Investor-State Dispute Settlement tribunals.
Big Pharma rigged the renegotiated North American Free Trade Agreement with special monopoly protections that would lock in high U.S. drug prices. We’re fighting to remove those giveaways to Pharma – and to ensure any new deal stops NAFTA’s ongoing job outsourcing, downward pressure on wages and environmental destruction.
The White House wants a vote on the revised NAFTA signed last year. But that NAFTA 2.0 deal would not stop job outsourcing or raise wages – but it would lock in high medicine prices.
Unions and consumer groups demand that these problems are fixed before any deal is sent to Congress.
NAFTA 2.0 has some improvements we’ve long demanded. But it also includes unacceptable new giveaways for pharmaceutical firms that would lock in U.S. policies that keep drug prices too high. And its labor and environmental standards must be strengthened and made subject to swift and certain enforcement.
If we can cut the Pharma giveaways and strengthen the labor and environmental terms and their enforcement while preserving the gains we’ve made, the final deal could stop some of NAFTA’s serious, continuing damage across North America.
And that is worth fighting for, even as we must continue our campaign to achieve a truly transformational replacement of the corporate-rigged trade model.
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