On the recordSeptember 14, 2016
The net effect by suing for financial gain will do exactly that if someone is going to have to pay damages. There is an ISDS provision that happened in Peru over an environmental law change by a company that had toxic contamination. That company is now, because of that change to environmental law in Peru, demanding $800 million from the country--$800 million because they are saying that that is somehow going to affect their future profits and because of a violation of a trade agreement. These are real. This is just one of many, many examples. Canada and other countries have been sued through these provisions. But now we have the experts in the United States telling us not to do that. So this is something that clearly is one of the biggest problems that is in there. As we said, you can't amend it out. We are not allowed. As Congress, we gave up our ability to amend that section out. Mr. Speaker, I yield to the gentleman.
