Law360 Quotes Stephen Kho on Biden Comments Regarding Investor-State Dispute Settlement
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Akin Gump international trade partner Stephen Kho has been quoted in the Law360 story “Biden Comes Out Against ‘Special Tribunals’ For Corporations.” The article reports on comments made by former Vice President Joe Biden indicating he may support moving away from the stance on investor-state dispute settlement (ISDS) adopted during the Obama administration.
The presumptive Democratic presidential nominee, according to Law360, said in response to a questionnaire from the United Steel Workers that he would not include investment arbitration in future trade deals if it could weaken U.S. labor, health and environmental policies. The article says this appears to mark the first time that Biden has taken a firm stance on the topic during his candidacy.
Kho said Biden’s position “isn’t too far off” the position the Obama administration had during its second term in office.
Still, Kho said, it’s worth noting that Biden’s audience here is a labor union. “Biden’s response is very focused on this audience, i.e., opposing the ability of companies to challenge ‘labor, health and environmental’ policies through ISDS,” he noted.
