06:12 AM EDT, 10/24/2025 (MT Newswires) -- The Trump administration has terminated trade negotiations with Canada over "egregious behavior" involving a Canadian political advertisement that featured former US President Ronald Reagan, current US President Donald Trump said Thursday.

"The Ronald Reagan Foundation has just announced that Canada has fraudulently used an advertisement, which is fake, featuring Ronald Reagan speaking negatively about tariffs," Trump said in a social media post. "Tariffs are very important to the national security, and economy, of the USA. Based on their egregious behavior, all trade negotiations with Canada are hereby terminated."

In a post on X, the Ronald Reagan Presidential Foundation and Institute said the ad campaign was created by the government of Ontario using selective audio and video from the late president. The content were obtained without permission, the foundation said, adding that it was reviewing its legal options on the matter.

Global Affairs Canada and the Department of Finance Canada didn't immediately respond to MT Newswires' requests for comments.

US stock futures were higher in recent premarket activity Friday.