Who calls you "America's bitch," yourselves's, internet idiots, or who?
The campaign for the presidency does occupy too long of time in America and causes a standstill in political progress (not that it is good already). I don't see it as good news for either country by breaking ties that would damage one of the strongest alliances in the world. I would suspect if the Canadian government pushes the issue hard enough Obama will respond positively and approve the deal. I believe that the Canadian government is doing something to make trade with the US more fair, good for them.
My biggest lack of believing this is I have a hard time believing Canada would want to have better relations with communist China than they would the US.