WASHINGTON (Sputnik) – Earlier on Wednesday, TransCanada filed a Notice of Intent to initiate a claim under Chapter 11 of the North American Free Trade Agreement (NAFTA) after Obama denied the pipeline. The company seeks to recover over $15 billion in damages.
“This will happen much more often under TPP, and it is likely the US won't be so lucky in future litigation,” McDonald said on Thursday.
Obama announced the conclusion of the TPP deal back in October and sent the trade agreement to US Congress for ratification.
The deal includes the United States and 11 Pacific nations that account for some 36 percent of global Gross Domestic Product in 2014.