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President Trump calls off all trade talks with Canada

over a controversial Ronald Reagan ad.

Plus, the White House confirms Trump and Chinese leader Xi Jinping

will meet next week.

And the pressure is on for lawmakers

as the continuing government shutdown

looks to end paychecks for many federal workers.

Some reps on both sides are working towards interim measures that could maybe help pay certain

workers, but ultimately the leadership of both parties are grounded in their positions,

and neither side is really willing to compromise.

It's Friday, October 24th. I'm Kate Bullivan for the Wall Street Journal.

And here is the AM edition of What's News, the top headlines and business stories moving your world today.

President Trump says he's calling off trade talks with Canada,

pointing to a TV ad paid for by the Ontario government.

The advertisement features snippets of a voiceover of Ronald Reagan's radio address from Camp David in 1987,

when he spoke about the negative impacts of tariffs on American businesses and workers. When someone says, let's impose tariffs on foreign imports,

it looks like they're doing the patriotic thing by protecting American products and jobs.

And sometimes for a short while it works, but only for a short time.

Posting on social media, Trump called the ad fraudulent and fake and argued that it was

designed to interfere with the courts as they weigh the legality of his global tariffs.

...