(ASSOCIATED PRESS) — President Donald Trump pulled out of trade talks with Canada Thursday night, furious over what he called a “fake’’ television ad from Ontario’s provincial government that quoted former U.S. President Ronald Reagan from 38 years ago criticizing tariffs -- Trump’s favorite economic tool. The ad features audio excerpts from an April 25, 1987 radio address in which Reagan said: “Over the long run such trade barriers hurt every American worker and consumer.’’ Trump attacked the ad on Truth Social Friday posting: “CANADA CHEATED AND GOT CAUGHT!!! They fraudulently took a big buy ad saying that Ronald Reagan did not like Tariffs, when actually he LOVED TARIFFS FOR OUR COUNTRY, AND ITS NATIONAL SECURITY.″ The Ronald Reagan Presidential Foundation and Institute criticized the ad on X Thursday night posting that it “misrepresents the ‘Presidential Radio Address to the Nation on Free and Fair Trade’ dated April 25, 1987.” While Trump called the ad fake, Reagan’s words were real. But context is missing. Here’s a look at the facts: Reagan, who held office during a period of growing fear over Japan’s rising economic might, made the address a week after he himself had imposed tariffs on Japanese semiconductors; he was attempting to explain the decision, which seemed at odds with his reputation as a free trader.