Canada has now learned that the derisive acronym TACO — often slapped on U.S. President Donald Trump — is inaccurate and needs to be tweaked to something more like "Trump (Almost) Always Chickens Out."

Despite putting decidedly lower tariffs than he'd threatened on dozens of countries around the globe and giving Mexico a 90-day reprieve from his threat to raise its tariff rate, Trump singled out Canada for an increase.

While there's no way that Canada can characterize what happened as a win, there's plenty of evidence that it's not a reason for Prime Minister Mark Carney's government to panic and do something that jeopardizes what really matters for the Canadian economy: tariff-free access to the U.S. for the vast majority of exports.

The key evidence backing this perspective

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