Trump Imposes 10% Tariff Hike on Canada Following Reagan Ad Dispute
President TRUMP announced a new 10% tariff on Canadian imports, retaliating against an Ontario government ad campaign featuring a 1987 Ronald Reagan audio clip on trade policy. The move escalates existing U.S. tariffs on Canada, which currently average 35%, though 85% of exports remain tariff-free under USMCA terms.
The disputed ad repurposed Reagan's critique of tariffs as counterproductive to workers—a message the WHITE House called a misrepresentation. Ontario Premier Doug Ford pledged to pull the campaign after it aired during the World Series, but the delayed takedown appears to have triggered the tariff response.
Markets are assessing the potential Ripple effects, particularly for energy products already facing 10% duties. The timing coincides with an impending Supreme Court review of U.S. tariff authority, suggesting strategic positioning beyond immediate trade flows.
