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posted by janrinok on Thursday May 21 2015, @02:59AM   Printer-friendly

The Electronic Frontier Foundation has highlighted two amendments to Fast Track (a bill which would authorize the President to enter into binding trade agreements like the Trans-Pacific Partnership, or TPP, without Congressional oversight). Senator Elizabeth Warren and 14 other senators are backing an amendment that would eliminate "Fast Track" for any trade bill containing an investor-state dispute settlement clause. That would include the TPP as well as the Transatlantic Trade and Investment Partnership (between the U.S. and European Union).

A second amendment, from Sens. Blumenthal, Brown, Baldwin, and Udall, addresses the lack of transparency of the agreement, and would require "all formal proposals advanced by the United States in negotiations for a trade agreement" to be published on the Web within five days of those proposals being shared with other parties to the negotiations. This would bring the United States up to the same level as the European Commission, which has already begun publishing its own TTIP position papers and text proposals to the public.

Treasury Secretary Jacob Lew has said that the White House will veto TPP if a bipartisan currency manipulation measure he called a "poison pill" is passed:

"If a trade agreement is required to come back with a currency discipline that is enforceable through trade mechanisms, I don't think there is another country in the world that would agree to that," Mr. Lew said at a Bretton Woods Committee conference in Washington. "It's a poison pill in terms of getting agreement on TPP."

The Brookings Institution has an article about the TPP's effect on "biosimilar" regulations in the U.S. and other TPP partner nations. "Biologic drugs" are expensive therapies derived from biological sources. They include vaccines, anti-toxins, proteins, and monoclonal antibodies. The high costs have encouraged the development of biosimilars, follow-on versions of an original biologic. Some estimates predict that "competition from biosimilars could reduce US spending on biologics by $44 to $66 billion over the next ten years".

Current Food and Drug Administration regulations grant biologic drugs 12 years of "data exclusivity" following approval, during which the FDA "may not approve a biosimilar application that relies on the data submitted as part of the original biologic application". Without the ability to reuse original clinical trial data, biosimilars face the same high costs of biologic drugs. Opponents to the long exclusivity period argue that restrictions on biosimilar competition keep drug prices high. The TPP would require member states to match the U.S.'s data exclusivity period, and make it harder to change:

For the 11 countries besides the U.S. that are involved in the TPP, current data exclusivity protections range from zero (Brunei) to eight years (Japan). Under the Obama Administration's current proposal, participating countries would increase those periods to match the US standard of 12 years. Curiously, this proposal directly contradicts the administration's ongoing domestic efforts to lower the period of data exclusivity. Since the ACA passed, the Obama administration has repeatedly proposed reducing it to seven, arguing that this would save Medicare $4.4 billion over the next decade. Some have noted that, once the 12-year period is enshrined in the TPP, it will become significantly more difficult to change it through the US legislative process. Furthermore, imposing US standards on the 11 member countries would inevitably restrict competition at the global level, and many patient advocacy and international humanitarian organizations have argued that doing so would undermine the efforts of US global health initiatives like the Vaccine Alliance and the Global Fund to Fight AIDS, Tuberculosis and Malaria, which rely on price competition to manage program costs.

TPP: Wikipedia and Google News.

 
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  • (Score: 3, Insightful) by K_benzoate on Thursday May 21 2015, @05:19AM

    by K_benzoate (5036) on Thursday May 21 2015, @05:19AM (#185900)

    I don't accept "intellectual property" as a legitimate concept. And the targets will not be the Chinese counterfeiters because they are forever beyond our reach, it will be (comparatively) wealthy US citizens engaging in copyright infringement. This is a power grab by the domestic enforcement arm of the copyright cartels to knock "offending" US citizens off the net and shake them down for a few thousand dollars each if they ever want to reconnect to the Internet. It's also a Trojan Horse to smuggle this system into the rest of the world.

    I say no to that. Fuck your "competitive advantage".

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  • (Score: 0) by Anonymous Coward on Thursday May 21 2015, @10:34AM

    by Anonymous Coward on Thursday May 21 2015, @10:34AM (#185981)

    The targets cant possibly be Chinese.
    They are not party to the treaty.