The U.S.-Canada Trade War
Author: Greg Valliere
October 24, 2025
THE U.S.-CANADA TRADE WAR is back, just as Donald Trump prepared to travel to Asia for meetings that were advertised as potentially conciliatory with China and other countries.
THE VOLATILE AMERICAN PRESIDENT can’t accept criticism, and he reportedly blew a gasket in recent days over a 1987 radio ad that featured Ronald Reagan’s scathing assessment of tariffs.
NEVER MIND THAT REAGAN has been dead for over 20 years, this latest crisis revived the feud between Trump and Ontario Premier Doug Ford, who also has a volatile temper.
FORD’S AD FEATURED REAGAN’S SCATHING CRITICISM of tariffs, and won widespread attention after it aired during the thrilling Toronto-Seattle baseball series. “Tariffs hurt every American worker and consumer,” Reagan said.
THAT APPARENTLY WAS TOO HARSH, FOR TRUMP, who blasted the ad as “FAKE” and asserted that all trade talks between the two countries have been terminated. The U.S. imported $412 billion worth of goods from Canada in the past year.
IT REMAINS TO BE SEEN whether this will be a lasting crisis; Ford is explosive but Prime Minister Mark Carney had been moving toward a conciliatory stance in recent weeks.
TRUMP IMPOSED SANCTIONS on Canada in late June, and then rescinded his stance two days later. Our guess is that this crisis will pass, but it may require a diplomatic apology from Ford and Carney.
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