ISDS
ISDS, the notorious Investor State Dispute Settlement mechanism, is also known as Corporate Courts. It means that corporations can sue governments for policies that they deem will effect future profits. It is the means by which Veolia, the French waste disposal corporation, is suing the Egyptian government for raising the minimum wage, and by which Phillip Morris, the US tobacco giant, is suing the Australian government for introducing plain packaging on cigarettes in order to dissuade its citizens from smoking.
It is part of many mega-trade deals such as TTIP, CETA and TPP.
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