EU court backs use of trade tribunals to protect foreign investors

The European Union won backing from the bloc’s top court on Tuesday for its system to protect foreign companies, which proponents say is essential for future trade agreements but critics say unfairly favours multinationals.

The system of using tribunals to settle such disputes became a focal point of mass demonstrations against the “TTIP” EU-U.S. trade talks, which are now frozen, and CETA, when EU countries were deciding whether to back the latter in 2016. But it has yet to persuade Japan after their trade deal provisionally went into force in February. The United States has also been critical, although investor protection does not feature in the slimmed-down industrial tariff agreement the EU has proposed.The ECJ case came after the Belgian region of Wallonia, then led by Socialists, threatened to block CETA in 2016. The federal government persuaded it not to do so in return for concessions. Those included a request for an ECJ opinion.

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