This isn't some sort of status game. Well, maybe it is for Trump, but not for anyone who's not an idiot. Unfortunately, Carney is an idiot, and is in it for himself and his friends, not Canada.
The way to deal with the bear to the south is to first get rid of all the stupid stuff that is bad for Canadians regardless of Trump, like provincial liquor monopolies and dairy supply management. Don't ask for anything in return - Trump's word is no good anyway - but it may help with public opinion in the US. It will also help with better trade relations with other countries. After getting these other countries to open up as much as they're inclined, unilaterally eliminate tariffs on all countries (including the US). It's what's best for Canadians, apart from a few who profit off the lack of competition from other countries.
For bonus points, get rid of sales taxes, so there is zero friction importing things to Canada. That's great for consumers, and also great for any business that wants to continue or establish itself in Canada.
What's madness is continuing policies that antagonize other countries, and which are bad for Canada, just to make yourself feel better about having "elbows up".
The future is unknowable, so that might be the wrong bet. But in my view, it is the right one, in no small part because the political situation is on their (that is, the Carney administration's) side. Political support is what determines the ability to withstand pain. In Canada there is currently far more solidarity with the administration's stance on standing up to US bullying than there is in the US for the Trump administration's (many) price-increasing policies.
If the political situation were reversed, this would probably be a bad idea for Canada! But it isn't, so it isn't.