President Donald Trump has canceled trade negotiations with Canada over what he called a “fake” ad that featured parts of an anti-tariff speech delivered by conservative hero and former President Ronald Reagan.

The decision comes a day after President Donald Trump said he was terminating all trade negotiations with Canada immediately after the government of Ontario produced an ad campaign that criticized his tariff policy.

The Ronald Reagan Presidential Foundation and Institute is drawing blowback and praise for arguing that a Canadian government advertisement playing in U.S. markets misrepresented the 40th president's words to blast President Donald Trump's tariff policies.

President Donald Trump canceled trade talks with Canada on Thursday, citing a recent ad released by the government of Canada’s Ontario province that quoted former President Ronald Reagan’s 1987 radio address to the nation on fair trade.

Jake Tapper called BS on President Donald Trump over his claims about an anti-tariff ad featuring a radio address by former President Ronald Reagan.