Name: Trump ends Canada trade talks over anti-tariff ad
Uploaded: 2025-10-27T19:15:14.060Z
Duration: 4 min 56 s
Description: Hillary Fordwich, President of Strelmark LLC, joins to discuss U.S. President Donald Trump ending trade talks with Canada and whether or not they may resume.

Hillary Fordwich, President of Strelmark LLC, joins to discuss U.S. President Donald Trump ending trade talks with Canada and whether or not they may resume.

Washington

Trade discussions between the United States and Canada have been paused following a Canadian advertisement that used Ronald Reagan's voice in a manner critics say misrepresented his stance on free trade. The ad, which paraphrased Reagan and combined his statements out of context, led to President Trump ending the ongoing trade talks.

Ontario's premier has since announced a suspension of the ad campaign, and the Ronald Reagan Foundation is considering legal action over the ad's use of Reagan's voice. Commentators suggest that the incident may negatively impact Canada, which relies heavily on trade with the United States, and could result in less favorable terms if talks resume.

Trump ends Canada trade talks over anti-tariff ad

Let's dive a little deeper into this issue with the president of Strollmark, LLC, Hilary Bordwich. Hilary, welcome back to the show. Been a while. Yes. Great to see you again. Thank you for having me, Rick. What are your thoughts on the Canadian ad and Trump's reaction to it? Well, first of all, they're really silly, quite frankly, Rick, because what they did was they paraphrased Ronald Reagan. Of course, they used his actual voice, so it sounds very believable, but they're really silly because they actually misrepresented what President Reagan said. He was a great believer in free trade, and they took EPSA and then they combined it and made it sound like he said it in a contiguous comment and a contiguous address. He did not. He was actually talking very reluctantly about tariffs that had to be imposed on Japan, but he was a big proponent of free trade, Rick, and so they really misrepresented him. How do we know this? Because the Ronald Reagan Foundation is actually looking into whether or not they'll take legal action. So, the Canadians, I think, are really silly, and they're misrepresenting what Reagan said, and that's going to be, in the long run, to the detriment of Canada, because obviously they've alienated President Trump. What they should have done, and what Mark Carney should do, and what Canada should have done is they should look to the U.K. The U.K. was very sensible. Sakhir Astarma, the prime minister there, does not agree with most of President Trump's policies. Obviously, he's a labor politician, a labor M.T., labor, obviously, in the U.K. is very similar to Democrats. He's very far left of President Trump, but he was smart enough, and the British were smart enough, to get along with President Trump and get a good trade deal. I think the Canadians are being silly. Well, I have a little more of the back story on that, because Reagan did, as you said, place a tariff on Japan, because Japan violated trade agreements on semiconductors. They were dumping them on the U.S. and world markets at prices below market value, and so Reagan imposed a 100 percent tariff, and then he met with the Japanese PM to resolve the problem. And now, according to Ontario's premier, Doug Ford, Ontario will pause the Ronald Reagan ad campaign that prompted Trump to call off those trade talks. So has the damage already been done, or do you think Trump actually will go back and resume negotiating? Well, I think it's actually both, Rick. By the way, you're absolutely right about what you just said. It was retaliatory. That's what we—that's what President Reagan was talking about when he actually reluctantly had to impose those tariffs on Japan. Now to your question. I think it's two things. I think, yes, it's a mistake, yes, it's a setback. Ultimately, though, I think President Trump, not only is he the president of peace, he is the president of trade deals. He does want to do a trade deal. I think what the Canadians are going to do, actually, they're going to get a worse deal, because now they're going to come back crawling. As you said, they've suspended the ad already. They know they're in the wrong, and wait until they have legal action from the Ronald Reagan Foundation. Not going to look very good for Canada. Well, who loses more by Trump ending negotiations? Do we lose more, or does Canada lose in this deal, for lack of a better word? No, they definitely—no, Rick, they definitely lose more. They need us as their trading partner. Seventy-five percent of their exports come to the U.S. They need us. Hillary, we learned this morning that the Social Security cost of living increase will go up by 2.8 percent in 2026. That's an average increase of more than $56 for retirees every month. Do you agree the 2.8 percent increase is OK, or should Social Security have waited until after the shutdown to properly calculate inflation? Well, actually, a lot of these calculations, Rick, were done before the shutdown. That's where the calculations went. Obviously, the government, we all know, takes quite a bit of time to do anything. So this wasn't done just yesterday. This was before that. A few things I would say. The reason that Social Security is going to end up going bankrupt is a fundamental mistake. Social Security should have always been indexed to life expectancy. Rick, when it was first instituted, it was 1935. Do you know what the life expectancy was in the U.S. in 1935? It was 62 years old. In other words, Social Security was meant to be sort of like, you know, never going to happen, because actually what you did is you actually died by then. So life expectancy was 62. If Social Security had been indexed to life expectancy the entire time, it wouldn't be in the situation it is today. What I strongly advocate is that starting tomorrow, we index it to life expectancy for either the unborn child or toddlers. What are toddlers going to do? Toddlers aren't going to protest. Even 10-year-olds aren't going to protest. Even 15-year-olds don't think it's a good idea. Yeah, but you know what? Somebody will protest, Hillary. You know they will. And by the way, you didn't give me a chance to answer your quiz. I was going to say in the 60s, but I didn't know it was 62. Hillary Fordwood, thank you so much for joining us on this Friday. I learned something new today. Thank you. You're welcome.

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