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US President Donald Trump on Thursday night announced the cancellation of all trade negotiations with Canada. Trump wrote on the social media site Truth that Canada fraudulently ran an ad in which former President Ronald Reagan was speaking out against tariffs.
Trump wrote, ‘The Ronald Reagan Foundation reported that Canada misused Reagan’s fake advertisement. It distorts Reagan’s 1987 speech.’ In this video, Reagan talks about the impact of Trump’s tariffs on common people. This advertisement was worth 75 million dollars (Rs 634 crore).
The two sides had been negotiating deals in sectors like steel and aluminum for weeks, but Trump’s announcement has brought it to a complete halt. Following Trump’s decision, Canadian PM Mark Carney said a comprehensive trade deal with the Trump administration is now out of reach.
Reagan’s video, which Trump called fake
35% US tariff imposed on Canada
Trump has already imposed 35% tariffs on Canada. He also imposed 50% extra tariff on metal and 25% on automobile. Goods covered under the US-Mexico-Canada Agreement (USMCA) signed during Trump’s first term are exempt from tariffs.
According to Reuters, Carney said, ‘If we do not make progress in trade negotiations, Canada will not allow the US arbitrary access to its markets.’ He said- We will do whatever is necessary for the safety of our people.
Trump wants to merge Canada with America
Canadian Prime Minister Mark Carney arrived on a visit to America on October 8. During this time, he met Trump in the Oval Office. Trump has said many times that Canada should become the 51st state of America.
Carney shrugged off the joke and said he supports Trump’s Gaza-Israel peace plan and that Canada will help. Apart from this, Carney praised Trump and gave him credit for establishing peace between many countries including India and Pakistan.
During the conversation at the White House, Carney said, ‘You are a transformative and special President. You transformed the economy, increased defense spending by NATO countries and restored peace from India-Pakistan to Azerbaijan-Armenia.
Canadian Prime Minister Mark Carney met President Trump at the White House on October 8.
Total trade between America and Canada is Rs 79 lakh crore
America and Canada are each other’s largest trading partners, where goods and services worth about Rs 15 thousand crores are exchanged every day.
In 2024, the total value of bilateral trade was about Rs 79 lakh crore, of which the US had a goods trade deficit with Canada of Rs 5.21 lakh crore.
USMCA (United States-Mexico-Canada Agreement) was an important agreement between the two countries. It came into effect in 2020. This agreement promotes free trade. It is to be reviewed in 2026. Goods (81% of imports) are exempt under USMCA.
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