Trump Terminates All Trade Talks with Canada Over ‘Fraudulent’ Reagan Ad Criticizing Tariffs

US President Donald Trump on Thursday announced the termination of all trade negotiations with Canada, accusing the country of running a “fraudulent” advertisement featuring former President Ronald Reagan speaking against tariffs.

“Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED,” Trump wrote on Truth Social.

The ad, which aired in Ontario, showed Reagan warning that tariffs on foreign goods lead to job losses and trade wars. Ontario Premier Doug Ford said earlier this week that the spot had caught Trump’s attention. “I heard that the president heard our ad. I’m sure he wasn’t too happy,” Ford said Tuesday.

Trump has long used tariffs as leverage in global trade disputes, pushing US duties to their highest levels since the 1930s. His approach has sparked alarm among economists and businesses concerned about escalating trade wars.

Canadian Prime Minister Mark Carney responded Thursday, saying Ottawa would not allow unfair US access to its markets if talks fail.

Earlier this year, Trump imposed tariffs on Canadian steel, aluminum, and automobiles, prompting Canada to retaliate. The two countries have since been negotiating a potential agreement covering the steel and aluminum sectors.

The US, Canada, and Mexico are slated to review their 2020 continental free trade agreement next year, a process that may now face renewed uncertainty following Trump’s latest decision.