David Dayen on the Wikileaks release of TISA (Trade In Services Agreement) documents, and yes, it’s really, really bad:

The deal would liberalize global trade of services, an expansive definition that encompasses air and maritime transport, package delivery, e-commerce, telecommunications, accountancy, engineering, consulting, health care, private education, financial services and more, covering close to 80 percent of the U.S. economy. Though member parties insist that the agreement would simply stop discrimination against foreign service providers, the text shows that TiSA would restrict how governments can manage their public laws through an effective regulatory cap. It could also dismantle and privatize state-owned enterprises, and turn those services over to the private sector. You begin to sound like the guy hanging out in front of the local food co-op passing around leaflets about One World Government when you talk about TiSA, but it really would clear the way for further corporate domination over sovereign countries and their citizens.

Reading the texts (here’s an example, the annex on air transport services) makes you realize the challenge for members of Congress or interested parties to comprehend a trade agreement while in negotiation. The “bracketed” text includes each country’s offer, merged into one document, with notations on whether the country proposed, is considering, or opposes each specific provision. You need to either be a trade lawyer or a very alert reader to know what’s going on. But between the text and a series of analyses released by WikiLeaks, you get a sense for what the countries negotiating TiSA want.

First, they want to limit regulation on service sectors, whether at the national, provincial or local level. The agreement has “standstill” clauses to freeze regulations in place and prevent future rulemaking for professional licensing and qualifications or technical standards. And a companion “ratchet” clause would make any broken trade barrier irreversible.

It may make sense to some to open service sectors up to competition. But under the agreement, governments may not be able to regulate staff to patient ratios in hospitals, or ban fracking, or tighten safety controls on airlines, or refuse accreditation to schools and universities. Foreign corporations must receive the same “national treatment” as domestic ones, and could argue that such regulations violate their ability to provide the service. Allowable regulations could not be “more burdensome than necessary to ensure the quality of the service,” according to TiSA’s domestic regulation annex. No restrictions could be placed on foreign investment—corporations could control entire sectors.

This would force open dozens of services, including ones where state-owned enterprises, like the national telephone company in Uruguay or the national postal service of Italy, now operate. Previously, public services would be either broken up or forced into competition with foreign service providers. While the United States and European Union assured in a joint statement that such privatization need not be permanent, they also “noted the important complementary role of the private sector in these areas” to “improve the availability and diversity of services,” which doesn’t exactly connote a hands-off policy on the public commons.

Corporations would get to comment on any new regulatory attempts, and enforce this regulatory straitjacket through a dispute mechanism similar to the investor-state dispute settlement (ISDS) process in other trade agreements, where they could win money equal to “expected future profits” lost through violations of the regulatory cap.
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