Business groups back Obama on Trade (The Hill)

Business groups are defending the dispute settlement boards that would be included in trade agreements being negotiated by the Obama administration.

In a letter to lawmakers on Monday, the U.S. Chamber of Commerce, National Association of Manufacturers and more than 60 other groups voiced support for the boards, which have been lambasted by organized labor and the left.

The letter argues that critics are mischaracterizing the investor-state dispute settlement (ISDS) boards as having more power than they actually have.

“These ISDS panels never have overturned and never can overturn any country’s laws or regulations,” the groups wrote. “ISDS is a strong enforcement tool that helps ensure that American businesses and their workers will be treated fairly overseas.”

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View full article: http://thehill.com/policy/finance/overnights/239450-overnight-finance-biz-backs-obama-on-trade-volcker-wants-shakeup

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