Pete Stark: “I rise in opposition to a Peru Free Trade Agreement that is neither free nor fair. Much like the North American and…”

“I rise in opposition to a Peru Free Trade Agreement that is neither free nor fair. Much like the North American and Central American Free Trade Agreements, this agreement will hurt both working families and the environment. Building on the Bush Administration's framework for CAFTA, it promotes the offshoring of high-wage American manufacturing jobs by removing many of the risks firms face when relocating to Peru in pursuit of cheap labor. Much like NAFTA, it enables foreign companies to challenge--in foreign courts--American laws that protect occupational health, safety, and the environment. Already, NAFTA signatories have paid more than $35 million to corporations that have through this provision attacked bans on the use of toxic chemicals, limits on tobacco production and marketing, and regulations on deforestation. In one case that hit particularly close to home, a foreign firm challenged California's ban on the use of polluting gasoline additive MTBE. As a result, American taxpayers were forced to pay more than $3 million in legal fees before the case was eventually dismissed on technical grounds. This agreement also undercuts Congress' authority to ensure American tax dollars are spent to create jobs in America by enabling President Bush to waive existing 'Buy America' policies. And it enables foreign firms to challenge American procurement policies designed to promote recycling and renewable energy.”