"Wall Street has won again": Bernie Sanders torches Trans-Pacific Partnership

In a blistering statement, the presidential hopeful warns the deal will hurt consumers and cost Americans jobs

Published October 7, 2015 8:15AM (EDT)

  (Reuters/Craig Lassig)
(Reuters/Craig Lassig)

This article originally appeared on AlterNet.

AlterNetOver the weekend, 11 nations reached a final agreement in Atlanta on the Trans-Pacific Partnership (TPP), a wide-ranging deal that would expand corporate rights across member states to the detriment of worker rights, the environment and public health.

But the agreement between heads of states does not mean that the TPP is a done deal. All of these countries must now secure legislative approval.

Although the U.S. Congress voted to give President Obama "fast-track authority," meaning the body gave up its power to amend the agreement and must simply vote yes or no, that is not a guarantee that the TPP will get the votes it needs.

Standing in the way are presidential politics. For one, Democratic candidate Bernie Sanders has long opposed the agreement, and he made clear that he continues to oppose it in a statement Monday, saying he was “disappointed but not surprised by the decision to move forward on the disastrous Trans-Pacific Partnership trade agreement that will hurt consumers and cost American jobs.

"Wall Street and other big corporations have won again," Sanders continued. "It is time for the rest of us to stop letting multi-national corporations rig the system to pad their profits at our expense.”

Sanders also said he will “do all that [he] can to defeat this agreement,” signaling an upcoming fight in Congress that will likely be amplified by the politics of the presidential race.

On the other side, GOP front runner Donald Trump opposes the agreement, which could put real pressure on House and Senate Republicans not to approve it.

By Zaid Jilani

MORE FROM Zaid Jilani

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Alternet Atlanta Hillary Clinton Tpp Trans-pacific Partnership Wall Street