Trump raises tariffs on Canada by 10% in response to Reagan advert

Core Points - Donald Trump announced a 10% increase in tariffs on Canadian imports due to an anti-tariff advertisement aired in Ontario, which he deemed a misrepresentation of facts [1][3][5] - The advertisement, which used Ronald Reagan's words, was criticized by Trump for its portrayal of US tariffs and was intended to influence an upcoming Supreme Court decision regarding presidential tariff powers [6][5] - Canadian exports to the US are significantly impacted, with over 75% of Canadian exports going to the US, and daily cross-border trade valued at approximately 3.6 billion Canadian dollars (2.7 billion US dollars) [8] Trade Relations - The trade relationship between the US and Canada is strained, with Canada being one of the largest trading partners of the US [7] - Current tariffs on Canadian products include a 35% rate on many goods, 50% on steel and aluminum, and a lower rate of 10% on energy products, while some goods are exempt under the US-Canada-Mexico Agreement [8] - Canadian Prime Minister Mark Carney has been attempting to negotiate lower tariffs with Trump, but the relationship has soured, and Trump has no plans to meet Carney at the ASEAN summit [10][7]