Manufacturers welcomed today strong bicameral support for the maintenance of investor-state dispute settlement (ISDS) provisions in an updated NAFTA to ensure that manufacturers and other businesses in the United States have remedies for unfair and discriminatory treatment overseas. In a letter organized by U.S. Rep. David Schweikert (R-AZ), more than 100 members of the House and Senate urged President Donald Trump to include a strong ISDS mechanism as part of any updated agreement.
“Manufacturers support a stronger, modernized NAFTA so that we can keep growing and thriving here in America,” said National Association of Manufacturers (NAM) Vice President of International Economic Affairs Linda Dempsey. “Investment rules, enforced through ISDS, are a vital recourse against unfair treatment against manufacturers in America and must continue to be a priority in the ongoing NAFTA negotiations as well as in future agreements. Manufacturers and other businesses in the United States have successfully used ISDS to address discrimination, the theft of U.S investment property and forced localization measures designed to shift jobs outside the United States. As Congressman Schweikert and members from both the House and Senate have recognized, the continued inclusion of ISDS in NAFTA is vital to ensure that investment overseas continues to support U.S. exports, manufacturing and jobs here in the United States.”
The letter was also led by Ways and Means Committee Chairman Kevin Brady (R-TX), Ways and Means Trade Subcommittee Chairman Dave Reichert (R-WA) and Senate Finance Committee Chairman Orrin Hatch (R-UT). In August, the NAM joined with more than 110 business associations to urge the inclusion of ISDS in an updated NAFTA and has developed this short video to explain the basics about ISDS. For more information, click here.
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