Ontario’s Reagan ad – in which former President Ronald Reagan says tariffs “hurt every American” – likely hit a nerve with Trump in part because many Americans report feeling financially squeezed, said Mr Sands.
This discontent comes at a politically critical time for Trump ahead of next year’s US midterm elections.
Madan said many Congress members are already in campaign mode. “They’re facing some political headwinds on affordability, and these tariffs aren’t helping,” he said.
A November Fox News poll, external suggested that 76% of US voters view the economy negatively, up from 67% in July, and that many believe Trump’s economic policies have hurt them.
The president walked back tariffs on dozens of food items earlier this month, and has signalled an openness to lower tariffs on imported metals from Canada and Mexico if some conditions on shifting production to the US are met.
Before the abrupt pause in talks, Trump and Carney were discussing a possible deal on metals and energy, which Canadian officials had hoped would ease the tariffs on Canada’s steel and aluminium sectors.
The US has imposed a 35% levy on all Canadian goods – though most are exempt under an existing free trade agreement. It has also slapped sector-specific levies on Canadian goods, including a 50% levy on metals and 25% on automobiles.
About three-quarters of Canada’s exports are sold to the US, making its economy particularly vulnerable. Carney has noted, however, that due to the duties exemption under the current free trade deal, Canada is facing lower tariffs than other countries.
Carney’s focus has instead been on his pledge to double Canada’s non-US exports in the next decade. The prime minister recently made a string of global trips to pitch Canada overseas, including to the United Arab Emirates and on the sidelines of the G20 in South Africa.