Canadians have every right to be concerned about the threat posed on trade by Donald Trump, specifically his pledge to initiate tariffs of at least 10 percent on all imports. But we should not overreact hysterically. For one thing, Trump will have many more pressing things on his plate when he is sworn in on January 20. We should respond prudently to what he does, not to what he says.

His promise to tear up NAFTA led to a renegotiation that essentially preserved the core elements and, in some cases, e.g. dispute settlement, strengthened the agreement. There is no point trying, as Prem