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title: Trump Ends Canada Trade Negotiations Over Reagan Ad, Carney Says &quot;We Stand Ready&quot; to Resume | TIME
description: President Donald Trump said the U.S. has “terminated” trade negotiations with Canada over an advertising campaign against tariffs that allegedly misused an audio clip from former President Ronald Reagan.
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* World

# Trump Ends Canada Trade Negotiations Over Reagan Ad, Carney Says "We Stand Ready" to Resume

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<!-- video src="https://cdn.jwplayer.com/manifests/Ovjd7jvo.m3u8" -->
## Video: Trump Ends Canada Trade Negotiations Over Reagan Ad, Carney Says "We Stand Ready" to Resume

[Watch (HLS stream): Trump Ends Canada Trade Negotiations Over Reagan Ad, Carney Says "We Stand Ready" to Resume](https://cdn.jwplayer.com/manifests/Ovjd7jvo.m3u8) (2:00)

![Trump Ends Canada Trade Negotiations Over Reagan Ad, Carney Says "We Stand Ready" to Resume](https://cdn.jwplayer.com/v2/media/Ovjd7jvo/poster.jpg?width=720)

_Published 2025-10-24. President Donald Trump said the U.S. has “terminated” trade negotiations with Canada over an advertising campaign against tariffs that allegedly misused an audio clip from former President Ronald Reagan._


---

Oct 24, 2025 5:08 PM UTC

---

## More From This Series

[All Videos](https://time.com/video/)

[Fact Check: President Trump Said His Win Was the 'Biggest Since Reagan.' It Wasn't](/video/j4FwpUoB/)

### Fact Check: President Trump Said His Win Was the 'Biggest Since Reagan.' It Wasn't

[Watch Democrats Use Ronald Reagan to Criticize Donald Trump](/video/8FSoMO0y/)

### Watch Democrats Use Ronald Reagan to Criticize Donald Trump

[Ronald Reagan Assassination Attempt](/video/EVIs59CC/)

### Ronald Reagan Assassination Attempt

---


## Transcript

Well, I think what happened is one of the leaders in Canada was running ads in the United States on trade, on tariffs. That took President Reagan's words out of context. Even the Reagan Foundation criticized him for it. But I have not spoken. I've been traveling since yesterday, but I have not spoken to the foreign minister since then. Um, but I mean, the president made his announcement that he's suspended, uh, any trade talks with Canada for now? Look, for months. We have stressed the importance of distinguishing things we can control and things we can't control. We can't control the trade policy of the United States.

We recognize that that policy has fundamentally changed from the policy in the 1980s, 1990s, 2000. Um, and it's a situation where the United States has tariffs against every one of their trading partners to different degrees. And it's in that context that our officials, my colleagues have been working with their American colleagues on detailed constructive negotiations, discussions on specific transactions, specific sectors, steel, aluminum and energy. And a lot of progress has been made. And we stand ready, uh, to pick up on that progress and build on that progress when the Americans are ready to have those discussions, because it will be for the benefit of workers in the United States, workers in Canada, and families in both of our countries.

Now, what we can control absolutely, is how we build here at home. And that's the focus of budget 2025 generational investment here in Canada. And we can also control or at least heavily influence, is developing new partnerships and opportunities, including with the economic giants of Asia, which is the focus of this trip.

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