URGENT UPDATE: President Donald Trump has just announced the termination of trade talks with Canada following a controversial advertisement released by the provincial government of Ontario. The ad, which features critical remarks about tariffs made by the late Ronald Reagan, has ignited Trump’s ire, prompting an immediate response late Thursday on his Truth Social account.
The Ronald Reagan Foundation claims the ad “misrepresents” Reagan’s 1987 speech, which warned that tariffs harm “every American worker and consumer” and can trigger “fierce trade wars.” Trump’s foundation is currently “reviewing legal options,” indicating potential legal action against the Canadian government.
In a fiery post, Trump declared, “The ad was for $75 million. They only did this to interfere with the decision of the U.S. Supreme Court,” which is set to hear arguments next month regarding Trump’s tariffs imposed under the International Emergency Economic Powers Act. Lower courts previously found these tariffs unlawful, potentially obligating the federal government to refund up to $1 trillion in revenue to American companies if the Supreme Court upholds those rulings.
Trump’s statement continued, emphasizing the importance of tariffs: “TARIFFS ARE VERY IMPORTANT TO THE NATIONAL SECURITY, AND ECONOMY, OF THE U.S.A.” He concluded with a sharp message: “Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED.”
This escalation has thrown the long-standing friendly relationship between the U.S. and Canada into turmoil, particularly affecting sectors like autos, aluminum, energy, lumber, and steel. The ongoing trade war has already had significant repercussions on the economies and job markets in both nations.
As tensions rise, stakeholders are now watching closely for further developments. This situation could dramatically affect U.S.-Canada relations and has the potential to reshape international trade dynamics. Stay tuned for updates as this story unfolds.
