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Canada is protected by the fact that the US is right next door and would take a dim view of anyone invading them in the first place.
All that would mean is that the Russians would be in Riga, Kaunas and Tallinn about a week after such a decision was made.
The US has commitments to our friends; not meeting those commitments, no matter how much money it would save, is a nonstarter.
Sure Canada is defended by geography, the only land border Canada shares is with the US and the US and Canada have been at peace for 200 years. Canada is not going to make trade concessions solely to prop up NATO. NATO is not important enough to Canadians to do that deal.
You always have a transition peroid, slowly phase out NATO and replace it with an EU defense force. The US would spend less on the military and EU can stand on its own two feet military wise. Keeping NATO the way its always been does not make sense any more. Really Europe should handle its own affairs and the US could better spend that money else where.