Canadian Prime Minister Mark Carney said that he has apologised to US President Donald Trump over an anti-tariff advertisement which had used a Ronald Reagan quote.

Last week, in response to the advert, Trump suspended trade talks with Canada and said he would impose an additional 10% tariff on Canadian imports.

"I did apologise to the president," Carney told reporters at the Asia-Pacific Economic Cooperation Summit in South Korea on Saturday.

The commercial used a series of clips from former President Reagan's 1987 national radio address, in which he argued that tariffs would hurt America's economy.

"Such trade barriers hurt every American worker and consumer," Reagan said in the speech.