Trump alluded to the deal in remarks to the National Association of Retailers in Washington, D.C., saying he hoped it would benefit U.S. industries and lead to the passage of the U.S.-Mexico-Canada Agreement.

The president appeared to skip over an explicit mention of the steel tariffs, but said the three nations had reached an agreement to sell "our product into those countries without the imposition of tariffs or major tariffs."

"That deal is going to be a fantastic deal for our country, and hopefully Congress will approve the USMCA quickly and then the great farmers, and manufacturers and steel plants will make our economy even more successful than it already is, if that’s possible," Trump said.