President Donald Trump has imposed an additional 10% tariff on all Canadian goods. This comes on the heels of Trump halting all trade talks with Canada after a televised advertisement in Canada used excerpts from a 1987 Ronald Reagan speech criticizing tariffs.

Trump accused Ottawa of airing a "fraudulent" TV ad and said it was an attack on U.S. judicial independence. The White House said in a statement that the tariffs would remain in place “until Canada shows respect.”

The move has sparked fears of renewed trade tensions under the USMCA and potential retaliation from Canada. Trump and Canadian Prime Minister Mark Carney are both set to be at a dinner on the sidelines of an Asia-Pacific Economic Cooperation (APEC) in South Korea on Wednesday. However, Trump has said he doesn't plan to meet Carney.