US President Donald Trump said on Thursday that he was ending “all trade negotiations” with Canada because of recent television ads protesting US tariffs, which he called “egregious behavior” aimed at influencing US court decisions.
"The Ronald Reagan Foundation has just announced that Canada has fraudulently used an advertisement, which is FAKE, featuring Ronald Reagan speaking negatively about Tariffs. The ad was for $75,000. They only did this to interfere with the decision of the U.S. Supreme Court, and other courts," Trump posted on his social media platform Truth Social.
He added: "TARIFFS ARE VERY IMPORTANT TO THE NATIONAL SECURITY, AND ECONOMY, OF THE U.S.A. Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED. Thank you for your attention to this matter! President DJT."
The post comes after Canadian Prime Minister Mark Carney said he aims to double his country’s exports to countries outside US because of the threat posed by Trump’s tariffs.
Earlier, Canada's Trade Minister Dominic LeBlanc had said both sides were “making progress” and working through “unprecedented detail,” while cautioning that settlements in key sectors remained unresolved.
On Thursday, the Ronald Reagan Presidential Foundation & Institute posted on X that the ad created by the government of Ontario “misrepresents the 'Presidential Radio Address to the Nation on Free and Fair Trade' dated April 25, 1987.” It added that Ontario did not receive foundation permission “to use and edit the remarks.”
The foundation said it is “reviewing legal options in this matter” and invited the public to watch the unedited video of Reagan's address.
Carney met with Trump earlier this month to try to ease trade tensions as the two countries and Mexico prepare for a review of the U.S.-Mexico-Canada Agreement, a trade deal Trump negotiated in his first term, but has since soured on.
More than three-quarters of Canadian exports go to US, and nearly $3.6 billion Canadian (US$2.7 billion) worth of goods and services cross the border daily.
(With inputs from AP)Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
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