Vastine testifies before USITC on Trans-Pacific Partnership Agreement

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Senior industry and innovation fellow J. Robert Vastine testified today before the United States International Trade Commission (USITC) (new window) on the Trans-Pacific Partnership (TPP) trade agreement. This hearing comes as the USITC begins its Congressionally mandated investigation into the TPP’s potential impact on the aggregate U.S. economy, along with its effect on specific industry sectors of interest to U.S. consumers. Along with oral testimony, Vastine submitted written comments. 

Elsewhere, Vastine offered commentary for Bloomberg BNA (new window), highlighting that the TPP has succeeded in including the right of financial services companies to seek remedies through investor-state dispute settlement proceedings. Vastine noted that “These remedies include violations of the minimum standard of treatment and commitments to compensate for damages due to civil strife and for direct and indirect expropriations.” Bloomberg BNA is a subscription only news service.  

The center released an economic policy vignette summarizing Vastine’s comments.