The Globe and Mail reports in its Saturday, Aug. 9, edition that dozens of countries have realized they cannot outmanoeuvre U.S. President Donald Trump in the tariff game. The Globe's Eric Reguly writes that trade partners face a double penalty: high tariffs and a requirement to invest significantly in the U.S. or purchase large amounts of U.S. energy for the privilege of selling luxury goods in the U.S. market. Canada has avoided the harshest penalties, largely due to the United States-Mexico-Canada Agreement (USMCA), which protects about 90 per cent of its exports to the U.S. However, the USMCA is up for review in mid-2026, and any of the three countries can opt out with six months notice, potentially leading to its collapse sooner. Ontario Premier Doug Ford is particularly aware of the precariousness of this agreement, as it could disappear unexpectedly. Ottawa would be unwise to assume the trade deal will remain intact until 2032, even if Mr. Trump does not withdraw next year. His trade policy relies on tariffs and investment shakedowns, not on approved or multilateral agreements. Mr. Reguly says the feds need to hustle to prepare a fallback strategy in case the USMCA is sent to the knacker's yard.