The Globe and Mail reports in its Saturday edition that with less than two weeks until the formal review of the U.S.-Mexico-Canada Agreement, it's clear there will be no 16-year extension on July 1. The Globe's Mark Rendell and Steven Chase write that Mexico and the U.S. have scheduled a third round of talks for late July, while Canada and the U.S. haven't started formal discussions yet. President Donald Trump remains indecisive about the agreement he signed in his first term. He said last week at the G7 meeting: "I'd rather leave it unsigned, I'd rather have it terminated. But I may sign it." The USMCA will remain in effect for a decade with annual reviews and can be extended at any time. Any party can withdraw with six months notice. Continental trade is entering a new, unpredictable phase characterized by bilateral deal-making, U.S. demands to align against China and uncertainty. Optimistic trade-watchers believe a deal could be reached as Mr. Trump aims for wins before the midterm elections on Nov. 3. But there are plenty of pessimists who think we are entering a limbo period, where things could get worse before they get better, and any relief from tariffs on autos, industrial metals and lumber could be very slow.