Trump says trade talks with Canada 'terminated,' claiming Ontario used 'fake' anti-tariff Reagan ad

OTTAWA — U.S. President Donald Trump says he has “terminated” trade talks with Canada, taking issue with an anti-tariff ad taken out by Ontario Premier Doug Ford’s government featuring former U.S. president Ronald Reagan that the president says was “fake.”

Trump announced the move in a post on Truth Social late Thursday.

Donald J. Trump Truth Social Post 10:39 PM EST 10/23/25 pic.twitter.com/qbvOeThsee

— Commentary Donald J. Trump Posts From Truth Social (@TrumpDailyPosts) October 24, 2025

“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,” Trump wrote. 

“ They only did this to interfere with the decision of the U.S. Supreme Court, and other courts. 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 move comes after Ontario paid to run a new ad against U.S. tariffs, using parts of a 1987 speech Reagan delivered.

Ontario started running the $75 million ad campaign in U.S. markets targeting Republicans two weeks ago.

The ads include audio from a radio address by Reagan in 1987 saying, “ High tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce trade wars. Then the worst happens. Markets shrink and collapse. Businesses and industries shut down and millions of people lose their jobs.”

The ad appears to have rearranged some of Reagan’s sentences in a different order than they were originally delivered.

The original text appears on a site hosted by the Ronald Reagan Presidential Library here .

Listen to President Reagan's unedited remarks here: https://t.co/1gQUcbR4eZ pic.twitter.com/iqmjSuypp0

— Ronald Reagan Presidential Foundation & Institute (@RonaldReagan) October 24, 2025

More to come …

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