Bernie Sanders: Trump's Renegotiated Trade Deal Fails to Meet Key Standards

WASHINGTON (Sputnik) - US Senator Bernie Sanders in a statement on Friday said that he will strongly oppose the new United States-Mexico-Canada Agreement (USMCA) in its current version because it will not stop the outsourcing of American jobs or protect the environment.

"In my view, a re-negotiated NAFTA must stop the outsourcing of US jobs, end the destructive race to the bottom, protect the environment, and lower the outrageously high price of prescription drugs," Sanders said. "Clearly, Trump’s NAFTA 2.0 does not meet these standards and I will strongly oppose it in its current form."

Sanders added that unless strong enforcement mechanisms are included in the agreement, the corporation will continue to ship US jobs to Mexico where workers are paid as little as $2 an hour.

READ MORE: New USMCA Trade Deal Must Benefit Middle-Class American Families — Schumer

"Further, this deal includes some outrageous giveaways to the fossil fuel industry and big pharmaceutical companies that will harm the environment and increase prices for life-saving prescription drugs," the US senator said.

Bernie Sander's comments come after Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto signed earlier in the day the USMCA during a ceremony in Argentina ahead of the start of the G20 Summit. Trump would like Congress to approve the new agreement, which will replace the North American Free Trade Agreement (NAFTA), before the Democrats take control of the House of Representatives in January.

The USMCA covers such areas as tariffs, the automobile industry, intellectual property rights, labor standards, environmental protection and agriculture.

The new trilateral trade agreement must be ratified by the legislatures or parliament in each of the countries in order to take effect.