Courtesy Ronald Reagan Presidential Library

President Donald Trump canceled trade talks with Canada on Thursday, citing a recent ad released by the government of Canada’s Ontario province that quoted former President Ronald Reagan’s 1987 radio address to the nation on fair trade .

Trump said the ad , which aired in the US, was “fake,” though it was in fact edited using real clips from Reagan’s five-minute talk ahead of a meeting on trade with Japan’s prime minister.

CNN analyzed key excerpts from the speech below. Quotes from the ad are highlighted.

As you might notice, the Reagan comments the government of Ontario used actually came in the context of him levying new tariffs against Japan — rather than a general broadside against the concept of tariffs. This reinforces that Reaga

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