The Dow Jones industrial average hit an all-time high on Tuesday, boosted by optimism that President Trump’s tough approach toward Canada on its trade deal will play out with China.

The blue-chip stock index reached an intra-day high of 26,824.78, a new record. The Dow ultimately ended the day after settling a bit to 26,773.94, the 14th record close of the year.

Investors pushed the index past the previous intra-day record of 26,769.50 on Sept. 21. The Dow ended that day at the previous closing record of 26,743.50.

“The current optimism is fueled on the back of hopes that Donald Trump would be able to strong-arm China as well, just like he did with Canada,” Naeem Aslam, chief market analyst at ThinkMarkets, said in a note Tuesday.

“Both Mexico and Canada left the NAFTA behind and decided to join a trade agreement which is built on Donald Trump’s demand,” he added.

Investors pushed up the index a day after Trump announced the new trade deal to replace NAFTA with Canada, the US’s largest trading partner, from the Rose Garden of the White House.

The agreement, officially called the US-Mexico-Canada Agreement, opens more of its dairy market to the US and to source more autos to labor in North America. In return, the US dropped a demand that special NAFTA courts be scrapped — a win for Canada.