Ways and Means Chairman Dave Camp (R-MI) issued the following statement today after the Office of the U.S. Trade Representative and the State Department released on Friday a revised model for U.S. bilateral investment treaties (BITs). This ends the Administration's long-paralyzed review of the prior model, which President Obama ordered three years ago. Since then, BIT negotiations have been in a holding pattern.
"For too long, we have been unable to move forward with BIT negotiations that would protect U.S. investors and attract more foreign investment to the United States, which support good U.S. jobs. This announcement finally clears the way for reinvigorated BIT negotiations, and the Administration should move forward promptly with an ambitious BIT agenda.
"I remain very concerned, however, about the new model BIT's expanded labor and environment provisions. They go beyond the bipartisan consensus that we have reached on these issues and could undermine the United States' investment engagement through BITs, which have long helped raise labor and environment standards abroad."
Source: http://waysandmeans.house.gov/News/DocumentSingle.aspx?DocumentID=292226
