Fox News host Shep Smith is calling Donald Trump’s decision to sign a government spending bill what he really believes it is — a “loss” for the president.

Smith explained on Thursday the positive spin that some Trump supporters were trying to put on the agreement, and Trump’s reported plan to declare a national emergency to pay for his U.S.-Mexico border wall.

“Somehow you’re supposed to push that together and roll it and spin it and churn it out and twist it and turn it into something that’s vaguely resembling a win,” he explained.

But, he continued, it “didn’t matter if you put it on that machine down there on the Jersey Shore and pulled it like taffy and twisted it and packaged it and put a bow on it and dipped it in chocolate. It’s not a win.”

“If it walks like a loss and quacks like a loss, you know, it’s just a loss,” Smith added.

Check out the clip here: