Canadian and American flags fly on the Canadian side of the Ambassador Bridge in Windsor, Ontario, on March 8. Geoff Ronins/AFP/Getty Images

President Donald Trump said Saturday he is increasing the tariff on Canada by 10% over current levels, further escalating trade tensions over what he called a “ fake ” ad that featured parts of an anti-tariff speech by former President Ronald Reagan in 1987.

“Canada was caught, red handed, putting up a fraudulent advertisement on Ronald Reagan’s Speech on Tariffs,” Trump posted on Truth Social , adding, “Because of their serious misrepresentation of the facts, and hostile act, I am increasing the Tariff on Canada by 10% over and above what they are paying now.”

The president’s post came after he said Thursday he was terminating trade talks wi

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