Mr. Trump announced the termination of all trade negotiations with Canada, citing what he described as "egregious behavior." This decision followed a post by Mr. Trump on Truth Social, where he stated that Canada had "fraudulently used an advertisement" featuring Ronald Reagan, which he deemed "FAKE." The Ronald Reagan Foundation reportedly supported this claim, asserting that the ad misrepresented a Presidential Radio Address.
The advertisement in question was reportedly taken out by the government of Ontario, Canada’s most populous province and a significant point of economic cooperation with the United States. In response to these developments, Prime Minister Mark Carney of Canada stated that Canada’s "old relationship" with the United States was over. Mr. Carney also outlined a long-term goal for Canada to double its exports to destinations other than the United States over the next decade. Mr. Trump has consistently taken an aggressive stance toward Canada, a key source of U.S. imports and destination for American exports. The article notes that Ronald Reagan continued to believe in the benefits of free trade.
Source: https://www.nytimes.com/live/2025/10/24/us/trump-canada-news