October 24, 2025 — U.S. President Donald Trump announced he is terminating all trade negotiations with Canada, the U.S.’s largest seafood trading partner, in response to a television advertisement featuring a quote from former President Ronald Reagan.
Trump, in a post on his social media platform Truth Social, said he was terminating the trade negotiations and that the Ronald Reagan Foundation “announced that Canada fraudulently used an advertisement, which is FAKE, featuring Ronald Reagan speaking negatively about tariffs.” The foundation had posted an update online saying it was “reviewing its legal options” on the advertisement, which directly quotes a real address by Reagan publicly available online.