The one-minute ad included some of Reagan’s remarks out of chronological order and omitted that Reagan recorded the address after imposing duties on some Japanese products. However, the ad’s overall message doesn’t misrepresent Reagan’s views on tariffs.

Scott Bessent was confronted, Sunday, about the idea that President Donald Trump increased tariffs on Canada because of a TV ad he didn't like.

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.