Here is my (limited/xenophobic) take:
An extremely well crafted speech. Some points that stood out for me (probably because i'm Canadian) were:
Trump mentioned the Canadian PM by name "Justin Trudeau" cue the fact that everyone knows JT is a Socialist and is operating a Socialist government in Canada. Trump mentions that JT, and he, came to some agreement on trade (JT is an idjit, out maneuvered and out smarted by Trump). The trap is laid.
Many minutes later, Trump starts talking about a new "Immigration" system, one that mirrors/copies the Canadian model of immigrants having to earn "points" to qualify for entry as an immigrant. The trap closes.
A Socialist leader (JT) of a Western democracy (Canada) enforces an immigration system that vets and tests and holds up pre-stated standards to potential immigrants.
Fucking brilliant.