Washington (CNN) On Thursday, President Donald Trump claimed the United States-Mexico-Canada Agreement, his replacement for the North American Free Trade Agreement, is already bringing back jobs and new investment.

He cited news from Toyota, which announced that it would make a $749 million investment in five US plants and add 586 new jobs.

Trump tweeted: "Congratulations @Toyota! BIG NEWS for U.S. Auto Workers! The USMCA is already fixing the broken NAFTA deal."

Congratulations @Toyota! BIG NEWS for U.S. Auto Workers! The USMCA is already fixing the broken NAFTA deal. https://t.co/f9iHprPk5B — Donald J. Trump (@realDonaldTrump) March 14, 2019

Facts first: The USMCA has not been implemented and its future is uncertain. The trade deal was The USMCA has not been implemented and its future is uncertain. The trade deal was signed by Trump and his Canadian and Mexican counterparts in December, but it needs congressional approval before going into effect. That said, it's possible Toyota factored the deal into its decision to make more of its vehicles at US plants.

The agreement must pass both the Democratic-controlled House and the Republican-controlled Senate, and lawmakers in both parties have criticized some of its provisions. It's likely that Congress will wait for an economic impact study due to be published next month by the United States International Trade Commission before considering ratification.

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