2018/09/13: A few years ago, corporate sovereignty -- officially known as "investor-state dispute settlement" (ISDS) -- was an indispensable and important element of trade deals. As a result, it would crop up on Techdirt quite often. But the world is finally moving on, and old-style corporate sovereignty is losing its appeal. As we reported last year, the US Trade Representative, Robert Lighthizer, hinted that the US might not support ISDS in future trade deals, but it was not clear what that might mean in practice. The Canadian Broadcasting Corporation (CBC) site has an interesting article that explores the new contours of corporate sovereignty:
The preliminary trade agreement the U.S. recently reached with Mexico may offer a glimpse of what could happen with NAFTA's Chapter 11 [governing ISDS].
A U.S. official said the two countries wanted ISDS to be "limited" to cases of expropriation, bias against foreign companies or failure to treat all trading partners equally.