wrangel via Getty Images The Euro logo ,by German visual artist Ottmar Horl, in front of the Eurotower in Frankfurt am Main, Germany. The trade deal between Canada and the European Union comes into force on Thursday.

BRUSSELS — The European Union is celebrating the entry into force of a major trade agreement with Canada as a boost for multilateralism at a time when the United States is looking to renegotiate trade deals.

European Commission President Jean-Claude Juncker said Wednesday that the pact exemplifies EU trade policy as "an instrument for growth that benefits European companies and citizens, but also a tool to project our values, harness globalization and shape global trade rules.''

What you should know about the Canada-EU trade deal: