US President Donald Trump on Thursday night announced the termination of all trade negotiations with Canada, citing an anti-tariff advertisement that featured a clip of former US President Ronald Reagan.

In a post on Truth Social, Trump wrote, "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 dollars. They only did this to interfere with the decision of the U.S. Supreme Court, and other courts."

He continued, "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 controversial campaign, reportedly funded by the Ontario government, has been airing on major US television networks at a total cost of 75 million dollars. The move comes just weeks after US President Trump and Canadian Prime Minister Mark Carney met in Washington on October 7 to discuss trade, border cooperation, and ongoing economic negotiations between the two nations.

Addressing reporters at the Oval Office, Trump described the trade talks as “complicated, more complicated than maybe any other agreement we have on trade.” He attributed this to the close but competitive relationship between the US and Canada, calling it a mix of “natural conflict” and “mutual love.”

“I love Canada, and the people of Canada, and Mark feels the same way about here,” Trump said. He noted that the countries’ proximity had created “competing business interests,” which sometimes placed the US at a disadvantage, even as bilateral relations had strengthened. “We believe the Canada-US relationship has come a long way,” he added, explaining that the “natural conflict” was being handled in a constructive manner.

Regarding tariffs on Canadian metals, Trump said that adjustments had already been made to protect domestic industries. “We want to make our own steel, we don’t want to bring in steel for the most part,” he said, while also expressing goodwill toward Canada’s economic success. “We want Canada to do well. We’re working on formulas, and we’ll get there,” he stated, acknowledging that direct competition between the two economies had its limits. “We’re in competition,” he added, “and there’s one very easy way to solve that problem.”

Trump also praised Canada’s cooperation on border and security issues, crediting joint efforts to curb illegal drug trafficking, especially through maritime routes. He said such collaboration had saved countless lives on both sides of the border. “The fact is we probably saved at least 100,000 lives, American lives, Canadian lives, by taking out all those boats,” Trump noted. “Now they don’t come in that way.”