President Donald Trump is touting his trade deal with Canada and Mexico as the greatest deal ever made.

But as conservative Ramesh Ponnuru writes at the National Review, Trump’s new North American trade deal is actually just a “a slightly modified version” of NAFTA, which the president regularly called “the worst trade deal ever made.”

ADVERTISEMENT

Ponnuru goes on to detail the small changes made in the new NAFTA and shows how some analyses find that they’re positive while others are more bearish, including a particularly pessimistic analysis from the International Monetary Fund.

“[IMF] economists project that the USMCA will cause a decline in the production of cars and car parts for all three countries,” he explains. “The U.S. will see a small hit to the size of its economy and an increase in its trade deficit.”

But on the whole, Ponnuru believes that the new deal will mostly return America to the NAFTA status quo that occurred before the president launched his trade war with America’s two neighboring countries.

“While the new deal does not amount to the radical change he suggested he wanted, he will be able to say that he has delivered on a promise and strengthened the economy,” he writes. ” The ‘worst trade deal ever made’ is about to become one of the best, and without having to undergo much alteration.”

Read the whole column here.