The proposal is described in Tom Fairless’ piece in The Wall Street Journal. I want to focus on a couple of comments in that article, though.
Campaigners [for the proposed new trade settlement court] claim that the current system constrains governments and leaves policy makers vulnerable to legal proceedings from overseas investors.
Kind of like those impertinent American companies do with the US government.
[O]pponents [of the existing trade settlement system] warn that large US companies could use the dispute-resolution mechanism to challenge European laws and regulations on labor, food and the environment.
As a matter of principle, what’s the downside of either of these?
Only Big Government proponents fear government being held to account by its…lessers.