I think that Canada has to de-leverage trade with the US is what the take away should be. Not that this trade deal itself is going to change all the balances -- its that there are other players who can start to trade - reducing dependence on the US. The compounding effects are damaging as are switching costs.

The laughing party is the person taking the tariffs and living large off them. The American consumer is suffering.

In reality, the vast majority of Canadian exports are energy and potash, neither of which have any kind of tariffs applied.

Because if they did, Trump's supporters would lose their shit completely. Gas prices would go through the roof and farmers would be in big big trouble.