Last month, KPMG Canada released the results of a survey of 275 Canadian manufacturers conducted in May, which found that 42 per cent of them have considered, or are currently considering, moving production south of the border. Eleven per cent said they’re thinking of moving their head offices to the United States.

A few weeks later, the Financial Post reported that Vancouver-based Interfor Corp., one of the world’s largest lumber producers, plans to “shift its corporate and functional support operations” from British Columbia to Georgia, largely due to Trump’s crippling 45 per cent tariffs on softwood lumber.

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If these weren’t reasons enough to put Canada in the crosshairs, Prime Minister Mark Carney has shown little willingness to stand up to the bully next door. A year ago, he unilaterally removed most of the counter-tariffs imposed on American goods by his predecessor, only maintaining duties on steel, aluminum and automobiles to protect Canadian industry from similar U.S. tariffs.

It’s now apparent that this was a tactical mistake: Carney’s gesture of goodwill lost Canada a strategic bargaining chip, while failing to buy trade peace.