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More Questions As New Trans-Pacific Partnership Details Emerge

November 7, 2015 by Toronto Real Estate Blog Leave a Comment

Image 22 More Questions as new Trans-Pacific Partnership details emerge - Screenshot - 07_11_2015

Experts and newly seated government officials are combing through the fine print of the Trans-Pacific Partnership trade agreement — the full text of which was finally released Thursday, revealing almost two dozen side deals with other countries and provisions that have alarmed some privacy and trade advocates.

  • Read the full text of the TPP agreement [PDFs]
  • Trans-Pacific Partnership text has been released

The 6,000-page, 30-chapter document was first released by New Zealand, and includes deals worked out over five years by the TPP members — Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.

 

Personal information at risk?

Among its provisions, the deal looks to make e-commerce easier by protecting “cross-border transfer of information … including personal information,” for business purposes.

Trudeau-Freeland

New Trade Minister Chrystia Freeland, left, and Prime Minister Justin Trudeau, seen with Gov. Gen. David Johnston, right, are being challenged to publicly state where they stand on the TPP after text of the trade deal was released. (Geoff Robins/AFP/Getty Images)

But critics say that wording may override laws like those in B.C. and Nova Scotia that keep government information such as health data and other personal details on servers within Canada to keep people’s information safe.

  • Keith Boag: Hillary Clinton’s opposition to the TPP deal might be just ‘talking’
  • Trans-Pacific Partnership: How the deal was done

Some fear that information will be accessible to U.S. or other foreign authorities without suitable oversight.

The language “fuels uncertainty” over Canadians’ privacy, says Michael Geist, a University of Ottawa law professor who has raised concerns about the TPP.

“These are rules that create restrictions on a country’s ability to establish privacy safeguards.”

The B.C. Freedom of Information and Privacy Association also spoke out about the TPP, saying in a release it “contradict[s] the domestic data storage provisions in the Freedom of Information and Protection of Privacy Act.”

 

Copyright changes

The TPP deal also extends copyright terms from 50 years after an author’s death to 70 years without expanding fair use; the limited use of copyrighted material without acquiring permission. This will keep works out of the public domain for decades, a consequence Geist calls a “massive loss” for Canada.

  • Trans-Pacific Partnership: Industry, provincial reaction is mixed

The TPP deal “confirms our worst fears,” agreed Josh Tabish of the advocacy group OpenMedia in a statement.

 

Foreign takeovers

Businesses in TPP countries will have an easier time buying Canadian companies, the text reveals.

The deal allows foreign investors to put more money into the takeover of a Canadian company — $1.5 billion, up from the current threshold of $600 million — without being subject to scrutiny from Investment Canada.

Investments above that limit must, under government rules, pass the so-called “net benefit” test that deems the deal good for Canada’s economy.

 

Side letters

The TPP also includes numerous side letters, or one-on-one sub-agreements between nations. Canada has 23 side letters with nine TPP members.

In one such deal with the U.S., Canada has agreed to share information on the illicit trade of counterfeit and pirated goods. A sub-agreement with Japan protects exports of B.C. logs, and makers of Canadian whiskey won some protections as well.

However, dairy farmers and some in the auto sector say the detailed language of the TPP favours foreign competitors.

 

Obama ready to sign

U.S. officials were quick to praise the deal on social media while launching their own staunchly pro-American website to house the full text of the TPP, while Ottawa has directed Canadians to a release from the New Zealand Ministry of Foreign Affairs and Trade.

  • Highlights: What’s in the Trans-Pacific Partnership agreement?
  • Canadians divided on benefits of Trans-Pacific Partnership: Vote Compass
  • Trans-Pacific Partnership offers dairy sector good news, bad news and a question mark

U.S. labour representatives, who had already voiced opposition to the deal, say the agreement contains weak, poorly worded or unenforceable provisions.

 

Newly named trade minister Chrystia Freeland said she will need time to go over all the documents, and encouraged Canadians to do the same. Prime Minister Trudeau has promised “a full and open public debate in Parliament.”

Read the full post in CBC News Business

 

Filed Under: Toronto Business Posts, Toronto News Posts Tagged With: central toronto real estate, toronto business, toronto news, toronto real estate

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