Trump Cuts Off Trade Talks With Canada Over "Fraudulent" Reagan Ad. U.S. President Donald Trump says all trade negotiations with Canada have been terminated after accusing Canadian officials of circulating what he called a "fraudulent" advertisement featuring former President Ronald Reagan. The ad, which shows Reagan criticizing tariffs as job killers that spark trade wars, reportedly caught Trump's attention earlier this week. Ontario Premier Doug Ford confirmed that the clip had reached the president, saying, "I'm sure he wasn't too happy.” Posting on Truth Social, Trump declared: "Based on their egregious behavior, all trade negotiations with Canada are hereby terminated.” Canadian Prime Minister Mark Carney responded, saying Ottawa will not allow unfair U.S. access to its markets if talks collapse. The two countries have been negotiating over steel, aluminum, and auto tariffs imposed earlier this year — measures that reignited tensions and prompted Canadian retaliation. Next year, Washington, Ottawa, and Mexico City are set to review their 2020 North American free-trade agreement — a process now clouded by Trump's latest move. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT