Earlier quoted context omitted.
I wouldn't color relying on a historical ally that either produces, or is the transit corridor for, most of your food with "everything to lose". The current trade spat is an issue, and Canada should react accordingly, but the reality is that, even with tariffs, the US still represents a very profitable trade partner, especially when they can levy tariffs of their own.
The issue is not limited to tariffs. There is consistent hostile rhetoric against Canada by multiple members of administration. And by hostile I mean threats of annexation, demands that Canada gives USA parts of its land and false accusations. Tariffs are only part of the issue. They seem the be the first USA step meant to weaken Canada economically before USA proceeds to steal from from it.
Yes, we're taking it seriously. It wasn't some one-off tweet. He's the official head of state and silence from the rest of the GOP and the US political class generally isn't exactly doing anything to calm tensions.
We faced heavy tariff threats under 1.0 and it wasn't anything like this. The reaction here isn't really about trade at all. It's about sovereignty.
The US is the only country that has ever invaded us.