As USMCA review nears, Canada branches outCarney’s whirlwind week began with a trip to Beijing, the first in nearly a decade by a Canadian Prime Minister. With the imminent launch of the USMCA review, the U.S., Canada and Mexico are set to renew, renegotiate, immediately terminate or sunset the free trade agreement. As the USMCA review begins, expect the U.S. — flush with leverage — to demand more investment screening mechanisms, expanded security operations, stricter rules-of-origin, invasive labor provisions and even foreign policy alignment. Already, the USMCA limits certain foreign policy moves; Article 32.1 restricts free trade deals with “non-market countries” — code for China. “Remember, Mark,” Trump said on Wednesday, “Canada lives because of the United States.” Carney’s moves could still invite retaliation; the risks, for both Canada and Mexico, are sky-high.