Governor Tiff Macklem has successfully wrestled down one of the worst inflationary crises in the Bank of Canada’s history, putting his nation on track for a soft landing. US President-elect Donald Trump may dismantle all that with a stroke of a pen.

The government is preparing for the possibility that the incoming U.S. administration will impose high tariffs on Canadian goods, setting the close allies up for a showdown.

Trudeau blasted Smith, reminding her that the federal government bought the Trans Mountain pipeline, which now has a C$34.5 billion price tag, giving Alberta its only route to export oil from Canada’s Pacific coast.