U.S. President Donald Trump says he is terminating trade talks with Canada, citing a recent Ontario government anti-tariff ad featuring late Republican president Ronald Reagan.

In a late-night post to Truth Social on Thursday, Mr. Trump referenced the advertisement which Ontario launched last week and said the Ronald Reagan Foundation announced that the advertisement is “fake.” He wrongly claimed the ad cost $75,000, but Ontario has said it is spending $75-million on the campaign.

“Based on their egregious behaviour, all trade negotiations with Canada are hereby terminated,” Mr. Trump wrote.

The Ronald Reagan Foundation, in a post on X, said it learned that the Ontario government created an ad campaign “using selective audio and video” of Mr. Reagan delivering a radio address about free and fair trade on April 25, 1987.