Canada and the US are set to agree on withdrawing the controversial investor-state dispute settlement (ISDS) mechanism from the North American Free Trade Agreement (NAFTA) between the US, Canada and Mexico.
Canadian Prime Minister Justin Trudeau has boasted of his commitment to progressive economic, environmental and social policies. At the same time, has been a passionate warrior in his pursuit and defence of so-called ‘free trade’ agreements.
Prime Minister Jacinda Ardern announced plans to effectively ban foreign buyers of existing residential property but says the prohibition doesn’t put New Zealand at odds with the slimmed down version of the Trans-Pacific Partnership deal.
US Trade Representative Robert Lighthizer said that the US wants to opt out of ISDS in NAFTA, because of the risk and costs of US governments being sued by foreign corporations, and despite corporate lobby groups pushing to retain ISDS.