American President Donald Trump called NAFTA “a disaster” in a speech to a small business group, claiming Canadians are smuggling things back across the border because Canadian tariffs on American goods are so massive.

He says Canadians are buying shoes in the U-S and scuffing them up so they look old, just so they can wear them across the border.

Trump claims the U.S. is treated “horribly” under NAFTA and says it can “no longer be the stupid country, we want to be the smart country.”

The TSX lost 67 points to close at 16,316.

Oil finished at 64.90 U.S. per barrel.

The loonie finished at 75.32 cents U.S.

Gold closed at $1278.60 U.S. per ounce.