On Wednesday, President Trump signed a new trade deal between the United States, Mexico, and Canada (USMCA) into law in front of an audience of some 400 farmers, CEOs and auto workers at the White House.
In his speech, Trump applauded the deal, emphasizing its expected benefits for American agriculture, manufacturing, and intellectual property.
Trump said this agreement marks the end of the "NAFTA nightmare," and that this new deal will usher in increased prosperity and jobs for Americans. The deal is estimated to add another 1.2 percent to America's GDP.
"This is a colossal victory for our farmers, ranchers, energy workers, factory workers, and American workers in all 50 states," said Trump.
However, some experts say the USMCA deal is simply an update or tweaked version of NAFTA.
With the new deal, Trump said American agriculture exports will grow by an estimated $315 million. Poultry exports to Canada will rise by at least 50% and egg exports are expected to increase by 500%.
The USMCA contains updated protections for intellectual property.
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