Trusted by over 15 Million Traders
The Most Awarded Broker
for a Reason
CATEGORIES
News
- PMI is positive but the yen falls, and the Japanese economy hides "fatal loophol
- There is limited room for gold to fall! You need to wait to buy the bottom of th
- Gold has repeatedly risen by 3,400 and has fallen back and corrected, waiting fo
- Powell poured cold water on expectations of interest rate cuts! US dollar index
- The probability of Fed rate cuts rises in September, and the Australian dollar r
market analysis
Reagan's "resurrection" to attack tariffs? Ad angers Trump, U.S.-Canada trade talks terminated!
Wonderful introduction:
Life requires a smile. When you meet friends and relatives, smiling back can cheer up people's hearts and enhance friendship; accepting help from strangers and smiling back will make both parties feel better; give yourself a smile and life will be better!
Hello everyone, today XM Forex will bring you "[XM Forex]: Reagan "resurrected" to attack tariffs? Advertising angered Trump, US-Canada trade negotiations terminated!". Hope this helps you! The original content is as follows:
U.S. President Trump announced on Thursday (October 23) that he will terminate all transaction negotiations with Canada due to the position of the Ontario government.
Previously he claimed that an advertisement from Canada - in which the late former US President Ronald Reagan made negative remarks about tariffs - was fake.
U.S. foundation exposes ad tampering scandal
Trump accused Canada in a statement of trying to influence a pending case in the U.S. Supreme Court - a case that may invalidate many of his tariff policies, including the tariffs imposed on Canada.
His statement came after the Reagan Presidential Foundation and Institute said the ad misrepresented President Reagan's radio address in April 1987 and that his remarks had been edited without authorization.
The foundation did not explain where it was misleading. But it also encouraged the public to watch the unedited original video of the speech on its YouTube channel and said it was evaluating legal response options.
Trump posted on his TruthSocial platform: "The Reagan Foundation has just exposed Canada's fraudulent use of doctored advertising-actually forging Reagan's remarks against tariffs. This behavior is purely intended to interfere with the rulings of the U.S. Supreme Court and other judicial institutions."
Trump Trump emphasized in the statement: "Tariff policy is related to the national security and economic lifeline of the United States! In view of Canada's bad behavior, we now announce the immediate termination of all trade negotiations with Canada."
Ontario has invested heavily in anti-tariff advertising, and Ford admitted that Trump has seen it
Ontario Governor Doug FordIt was announced on October 14 that the province would invest US$75 million in advertising in the United States, showing images of Reagan criticizing tariff policies.
Ford, who calls himself a "loyal Reagan fan," emphasized: "We will continue to deliver this message to all Republican constituencies across the United States."
Ford released this advertisement on the social platform X on October 16. In the ad, alongside images of American nature, domestic scenes, and workplaces, Reagan's words are heard: "When someone advocates imposing tariffs on foreign imports, it seems like they are practicing patriotism by protecting American products and jobs. Such measures may be effective in the short term. It works, but it's short-lived. In the long run, such trade barriers will hurt every American worker and consumer." Ontario Premier Doug Ford said on Tuesday that the anti-tariff ad caught Trump's attention. In the ad, Republican Reagan criticized the imposition of tariffs on foreign goods, saying they would cause job losses and trade conflicts.
Ford said: "I heard that the president saw our ad. I'm sure he won't be too happy."
Trump, who has made tariff policy a core governance strategy in his second term, has announced the termination of trade negotiations with Canada for the second time recently.
Previously on June 27, in response to Ottawa’s decision to impose a digital services tax on U.S. technology www.xmhouses.companies, he declared that the United States would “terminate all trade negotiations with Canada.”
Trump uses tariffs as a bargaining chip
Trump uses tariffs as a means to put pressure on many countries around the world. His trade wars have raised U.S. tariff levels to their highest levels since the 1930s, and he has frequently threatened to impose more tariffs, stoking concerns among businesses and economists.
Canadian Prime Minister Carney told reporters on Thursday that Canada will not allow the United States to gain unfair access to the Canadian market if negotiations on multiple trade deals with Washington fail.
Earlier this year, Trump imposed tariffs on Canadian steel, aluminum and automobile products, and Canada also took countermeasures. The two sides have been negotiating for weeks on potential deals in the steel and aluminum industries.
Next year, the United States, Canada and Mexico will review the North American Free Trade Agreement signed in 2020.
Impact on the currency market
Direct and clear bearish view on the Canadian dollar: The Canadian dollar is under pressure due to direct trade and economic shocks.
It is a short-term positive but a long-term negative for the U.S. dollar: In the short term, the U.S. dollar’s safe-haven attributes prevail and may strengthen; but in the long term, the backlash of protectionist policies on the U.S. economy and the rise in policy uncertainty will damage the foundation of the U.S. dollar.
On Friday, the U.S. dollar index continued its gains from the previous trading day, with an increase of about 0.1%, and is currently trading at 99.02. The U.S. dollar against the Canadian dollar recovered most of its losses in the previous two trading days, fluctuating and strengthening, with an increase of about 0.19%.
Escalating global trade tensions: As the United States and close alliesdisputes, it will amplify the market's concerns about "deglobalization", enhance the overall market's risk aversion sentiment, and benefit safe-haven assets.
Ultimately, the exact direction of the foreign exchange market will depend on how long the dispute lasts, whether it escalates into an actual tariff war, and how Canada and other trading partners react.
The above content is all about "[XM Foreign Exchange]: Reagan's "resurrection" to attack tariffs? The advertisement angered Trump, and the US-Canada trade negotiations were terminated!" It was carefully www.xmhouses.compiled and edited by the editor of XM Foreign Exchange. I hope it will be helpful to your trading! Thanks for the support!
After doing something, there will always be experiences and lessons learned. In order to facilitate future work, the experience and lessons of past work must be analyzed, researched, summarized, concentrated, and understood at a theoretical level.
Disclaimers: XM Group only provides execution services and access permissions for online trading platforms, and allows individuals to view and/or use the website or the content provided on the website, but has no intention of making any changes or extensions, nor will it change or extend its services and access permissions. All access and usage permissions will be subject to the following terms and conditions: (i) Terms and conditions; (ii) Risk warning; And (iii) a complete disclaimer. Please note that all information provided on the website is for general informational purposes only. In addition, the content of all XM online trading platforms does not constitute, and cannot be used for any unauthorized financial market trading invitations and/or invitations. Financial market transactions pose significant risks to your investment capital.
All materials published on online trading platforms are only intended for educational/informational purposes and do not include or should be considered for financial, investment tax, or trading related consulting and advice, or transaction price records, or any financial product or non invitation related trading offers or invitations.
All content provided by XM and third-party suppliers on this website, including opinions, news, research, analysis, prices, other information, and third-party website links, remains unchanged and is provided as general market commentary rather than investment advice. All materials published on online trading platforms are only for educational/informational purposes and do not include or should be considered as applicable to financial, investment tax, or trading related advice and recommendations, or transaction price records, or any financial product or non invitation related financial offers or invitations. Please ensure that you have read and fully understood the information on XM's non independent investment research tips and risk warnings. For more details, please click here