On 23 October, United States President Donald Trump terminated all bilateral trade negotiations with Canada, citing an advert featuring former US President Ronald Reagan criticizing tariffs. President Trump has accused Canada of influencing US Supreme Court decisions and reiterated the importance of tariffs for US national security and the economy. This abrupt termination halts progress ahead of a review of the US-Mexico-Canada Agreement (USMCA) in 2026. The US tariffs on Canada, particularly on steel, aluminium, and cars, have significantly impacted Canadian businesses. The discontinuation of trade talks could heighten operational disruptions and likely accelerate Canadian efforts to diversify export markets.