YOUNGSTOWN, Ohio - At the White House Monday, President Donald Trump outlined the new United States, Mexico, and Canada trade agreement.

The president said this agreement will do what NAFTA failed to do and once approved, it will be a new dawn for the auto industry and American autoworkers.

The president called the USMCA the biggest trade deal in U.S. history, with key components aimed at the auto industry.

The agreement requires at least 40 to 45 percent of a car to be made by workers earning at least $16 an hour. 

It also requires 75 percent of a car's parts to come from North America.

That's up from the current 62 percent. 

David Kiley of New Roads Media said that could bring changes.

"It could be an incentive for company's like Toyota, Nissan, and Mercedes-Benz to do more of its content in North America than it has been," said Kiley. 

However, others question if it's enough of an incentive to avoid tariffs.

"The tariff is only two and a half percent on imported cars into the U.S. It might be more expensive to redo their supply chain and they'd rather pay the tariffs. That's one of the things we don't know yet," said CNBC's John Harwood.

Kiley says the $16 wage component is not likely to bring jobs back to the U.S. because it doesn't account for America's health care costs. 

"Our health care costs make us uncompetitive for manufacturers to locate jobs here," said Kiley. 

The experts said we still need to hear from the auto industry, but it appears the deal would not dramatically change how the industry does business. 

"It updates NAFTA. It has some improvements from the standpoint of autoworkers, but it's not a revolution," said Harwood.