President Trump terminates trade talks with Canada

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Trade talks with Canada are on hold. The message comes after a late night post to social media by President Trump.

He cancelled talks after Ontario’s government pushed back on his tariff plan during an ad campaign. President Trump said the campaign was meant to influence the tariff case before the Supreme Court next month. He said tariffs are an important part of national security.

It is not clear how this announcement will impact USMCA trade negotiations. Most items in that deal remain duty-free.

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“It does not extinguish right away here — in any sort of sense — the real profitability concerns and people’s ability to pay bills and get to the other side of this in the very short term. This is where the skepticism builds.”