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Sure President Donald Trump’s first 100 days have been rocky. But Prime Minister Justin Trudeau’s next 100 days in office could be far worse. After Trump was elected, the Liberals understandably took a wait-and-see approach before worrying too much about what he would do on trade and on taxes, even as the warning signs around them flashed ever brighter. Having waited, they can now clearly see the business end of Trump’s bulldozer, ready to run roughshod over our trade relationships and competitiveness.

On Tuesday came tariffs slapped on lumber exports. Then came ominous ultimatums making it clear we’ll be punished severely for our dairy system. Soon there was talk that the White House is preparing an executive order to open up a NAFTA withdrawal, which would be an immensely powerful bargaining chip. And on Wednesday arrived Trump’s biggest threat to Canada: a cut to the U.S. corporate income tax that could vacuum away Canadian jobs and investment at a rate far worse than any timber or milk tariff might.