Chinese lead industry sues the United States through TPP
Within 24 hours of the Trans-Pacific Partnership being signed into international law by Barack Obama, the The People's Republic of China has filed a 580 billion dollar lawsuit on behalf of National Lead Mining and Industries Association of China (LMIAC) against numerous American corporations and the U.S. Consumer Product Safety Commission, claiming that the ban on using lead in exported paint, children's toys, and pet food has caused billions of dollars in lost revenue in the past 37 years since lead was frivolously banned for use in products in the United States in 1978.
Under TPP, foreign governments and corporations can sue the American government and American corporations using the vague definition of fairness in the international markets. If the actions of American businesses or the government impede the financial gain of a foreign corporation for any reason, such corporations can sue the allegedly offending U.S. entities for astronomical amounts of money if it can be proven that American actions have in any way gouged foreign profits.
If the lawsuit is successful, the LMIAC will not only be awarded the 580 Billion dollars, but could also force American businesses to sell Chinese lead-tainted products while forbidding any kind of warning label on the packaging. Additionally, if any U.S. media organization exposes the lead content in any of those products, it could also become a target for a foreign lawsuit.
Speaking at a press conference in Beijing today, Wai Lin-Chu, a LMIAC spokesman, said, "For decades the United States has been arrogantly trying to suffocate our lead business, which is a cornerstone of all consumer manufacturing in China. Thankfully, the new law allows us to receive just compensation that our nation deserves for the wrongful discrimination of Chinese lead-containing products by the United States."
Economic experts fear that as a result of TPP, the quality of other imported goods in the U.S. may severely diminish, as foreign manufacturers will no longer fear that their products could be pulled from American shelves for containing unsafe materials.
Jacob Devin, a professor of international trade and economics at Harvard University, said this at his seminar yesterday: "We very well could be seeing a huge wave of poisonous products flooding our market, especially since it is estimated that 75% of the things we use every day are made in China. There will be nowhere to hide from it and nothing we can do about it. To make things worse, this malicious lawsuit is likely to begin a long and painful series of malicious lawsuits against us by foreign countries."
source
Within 24 hours of the Trans-Pacific Partnership being signed into international law by Barack Obama, the The People's Republic of China has filed a 580 billion dollar lawsuit on behalf of National Lead Mining and Industries Association of China (LMIAC) against numerous American corporations and the U.S. Consumer Product Safety Commission, claiming that the ban on using lead in exported paint, children's toys, and pet food has caused billions of dollars in lost revenue in the past 37 years since lead was frivolously banned for use in products in the United States in 1978.
Under TPP, foreign governments and corporations can sue the American government and American corporations using the vague definition of fairness in the international markets. If the actions of American businesses or the government impede the financial gain of a foreign corporation for any reason, such corporations can sue the allegedly offending U.S. entities for astronomical amounts of money if it can be proven that American actions have in any way gouged foreign profits.
If the lawsuit is successful, the LMIAC will not only be awarded the 580 Billion dollars, but could also force American businesses to sell Chinese lead-tainted products while forbidding any kind of warning label on the packaging. Additionally, if any U.S. media organization exposes the lead content in any of those products, it could also become a target for a foreign lawsuit.
Speaking at a press conference in Beijing today, Wai Lin-Chu, a LMIAC spokesman, said, "For decades the United States has been arrogantly trying to suffocate our lead business, which is a cornerstone of all consumer manufacturing in China. Thankfully, the new law allows us to receive just compensation that our nation deserves for the wrongful discrimination of Chinese lead-containing products by the United States."
Economic experts fear that as a result of TPP, the quality of other imported goods in the U.S. may severely diminish, as foreign manufacturers will no longer fear that their products could be pulled from American shelves for containing unsafe materials.
Jacob Devin, a professor of international trade and economics at Harvard University, said this at his seminar yesterday: "We very well could be seeing a huge wave of poisonous products flooding our market, especially since it is estimated that 75% of the things we use every day are made in China. There will be nowhere to hide from it and nothing we can do about it. To make things worse, this malicious lawsuit is likely to begin a long and painful series of malicious lawsuits against us by foreign countries."
source