The Trade in Services Agreement (TISA) is a proposed international trade treaty being negotiated by 50 countries, including the European Union and the United States.
Unlike most trade deals, TISA is about services, not goods. This means that it has serious consequences for things that have little to do with trade, affecting areas like:
labor rights, banking regulation and whether public services like electricity and water are run for the benefit of the people or by profit-making multinational companies.
TISA, a deal backed by some of the world’s biggest corporations, such as: Microsoft, Google, IBM, Walt Disney, Walmart, Citigroup, and JP Morgan Chase.
Five reasons to oppose TISA
- It could lock in privatization of public services. TISA contains mechanisms, such as ‘ratchet ‘standstill’ clauses, that make it much harder to reverse privatizations and will allow greater market access for foreign companies.
- It will be terrible for the climate. TISA entrenches the idea of technological neutrality on energy policy. This could stop countries favoring renewables over coal, oil and gas.
- It will mean more casino capitalism. TISA will undermine efforts to regulate the financial sector and avoid another crisis.
- It threatens online privacy. TISA promises to hand much more power to the likes of Google and Microsoft to move personal data across borders to countries with lax data protection laws.
- It will be especially damaging to countries in the global south. TISA includes countries like Pakistan that could be hindered in developing public services. It also poses a threat to countries outside TISA, because, once approved, rich countries will seek to impose TISA-style measures globally through the WTO.