(MENAFN- Live Mint) Trade tensions between the United States and Canada escalated as President Donald Trump announced on Saturday, October 26, that he was hiking tariffs on Canadian goods by an additional 10 per cent“above what they're paying now.” The new tariffs were result of a recent fallout over a Canadian anti-tariff ad featuring late President Ronald Reagan, criticising tariffs.

The additional tariffs on Canadian imports have been slapped two days after Donald Trump ended all trade negotiations with the neighbouring country, citing the“misleading and fraud” advertisement.

Donald Trump announced the additional 10 per cent tariffs on Canada on Truth Social. Accusing the Canadian authorities of using the parts of Ronald Reagan's speech without permission, he said,“Canada was caught, red handed, putting up a fraudulent advertisement on Ronald Reagan's Speech on Tariffs. The Reagan Foundation said that they, 'created an ad campaign using selective audio and video of President Ronald Reagan. The ad misrepresents the Presidential Radio Address,' and 'did not seek nor receive permission to use and edit the remarks. The Ronald Reagan Presidential Foundation and Institute is reviewing its legal options in this matter'.”

"The sole purpose of this FRAUD was Canada's hope that the United States Supreme Court will come to their“rescue” on Tariffs that they have used for years to hurt the United States. Now the United States is able to defend itself against high and overbearing Canadian Tariffs (and those from the rest of the World as well!). Ronald Reagan LOVED Tariffs for purposes of National Security and the Economy, but Canada said he didn't!”

“Their Advertisement was to be taken down, IMMEDIATELY, but they let it run last night during the World Series, knowing that it was a FRAUD,” Trump said.

He continued,“Because of their serious misrepresentation of the facts, and hostile act, I am increasing the Tariff on Canada by 10% over and above what they are paying now.”

Soon after Trump announced end to all trade talks, Ontario Premier Doug Ford said that he has decided to withdraw the anti-tariff advertisement that angered Donald Trump, but said that the ads will keep airing through the weekend.

Doug Ford said he took the decision after talking with Prime Minister Mark Carney.“We've achieved our goal, having reached U.S. audiences at the highest levels," Ford said in a statement, adding,“Our intention was always to initiate a conversation about the kind of economy that Americans want to build and the impact of tariffs on workers and businesses.”

“I've directed my team to keep putting our message in front of Americans over the weekend so that we can air our commercial during the first two World Series games," he said.

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