US President Donald Trump has announced a major shift in trade policy. He stated that all trade negotiations with Canada are now terminated.
The president made the announcement on his Truth Social platform. He cited what he called a “fraudulent advertisement” as the reason for his decision.
The ad in question featured the late President Ronald Reagan. In the clip, the Republican icon criticises tariffs, saying they cause job losses and trade wars.
Ontario Premier Doug Ford commented on the ad earlier this week. He said he had heard President Trump saw the commercial and predicted he “wasn’t too happy.” This is not the first trade dispute between the two nations. President Trump has used tariffs as a key tool in his foreign policy.
Earlier this year, he imposed tariffs on Canadian steel, aluminium, and autos. Canada responded with its own tariffs on US goods. The two countries had been in talks for weeks to resolve the issues. These negotiations have now been publicly called off.
Canadian Prime Minister Mark Carney responded to the situation. He stated that Canada would not allow unfair US access to its markets if trade talks fail.
Read: Canadian PM Mark Carney Rejects Trump’s Annexation Talk at White House
The termination of talks adds uncertainty to the upcoming review of the US-Mexico-Canada Agreement (USMCA). The continental free-trade pact is scheduled for review next year.
