President Donald Trump took a victory lap Monday after the announcement of a new North American trade deal, heralding the pact as "an extraordinary agreement" and "a new dawn" for the U.S. auto industry.
Trump touted the deal to replace the North American Free Trade Agreement with a new trilateral pact called the USMCA, for United States-Mexico-Canada Agreement.
The deal was reached with Canada shortly before a midnight Sunday deadline imposed by the Trump administration. The U.S. had threatened to carry out a bilateral agreement reached with Mexico in August if Canada didn't join in.
In comments in the White House Rose Garden, Trump said negotiations with Canada had led to "very strong tensions" between himself and Prime Minister Justin Trudeau. Trump said those tensions had relaxed at "about 12 o'clock last night."
The Rose Garden comments were also peppered with criticisms for Democrats, as well as international trading partners such as China and the European Union, who Trump said have treated the U.S. "so unfairly."