While earlier this week President Donald Trump openly admitted that he had lied about the country’s trade relationship with Canada to Canadian Prime Minister Justin Trudeau, Late Night host Seth Meyers found the one element of truth in what Trump said.

The President, who revealed during a fundraiser in St. Louis on Wednesday that he contradicted Trudeau without knowing the facts, gave this as his rationale for lying to Trudeau.

“I had no idea,” he said. “I just said, ‘You’re wrong.’ You know why? Because we’re so stupid.”

Trump got loose with the facts when he told Prime Minister Justin Trudeau that the U.S. has a trade deficit with Canada, then admitted that he did not know if that was true, according to audio obtained by TIME.

Although Trump later contradicted this with a tweet, Meyers did find a kernel of truth.

“In fairness, ‘I lie because I’m stupid’ is the truest thing Trump has ever said,” Meyers said jokingly.

Watch the full clip above.

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Write to Cady Lang at cady.lang@timemagazine.com.