President Donald Trump hit Canada with a 10% tariff increase after the country re-aired an advertisement featuring former President Ronald Reagan endorsing free trade.
The one-minute TV ad originally aired last weekend, prompting Trump to halt all trade talks with the U.S.’s northern neighbor. Despite the backlash from the U.S. president, a leading Canadian official vowed on Friday to continue the ad campaign for the rest of the weekend, which aligns with the first two games of the World Series taking place in Toronto.
While Canada indicated it will be backing off from the ad on Monday in order for trade negotiations to potentially continue, Trump raged against its decision to re-air it, which he deemed a “hostile act.”
“Their Advertisement was to be taken down, IMMEDIATELY, but they let it run last night during the World Series, knowing that it was a FRAUD. Because of their serious misrepresentation of the facts, and hostile act, I am increasing the Tariff on Canada by 10% over and above what they are paying now,” Trump said in a statement.
The new tariff means Canada will face an even steeper rate, as it currently faces 35% levies on most exports to the United States, though some of those goods are excluded under the United States-Mexico-Canada Agreement. Trump has also slapped the country with 50% tariffs on steel and aluminum.
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As Trump has seemingly reignited a trade spat with Canada over the Reagan ad just as he was warming to new leadership under Prime Minister Mark Carney, the two may have a chance to hash out disagreements this weekend.
Both Trump and Carney will be in Malaysia for the ASEAN Summit, though China is top of mind for the U.S. president as trade negotiations have lapsed with them as well.
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