The Frame – The moment President Donald Trump signed an executive order to rename Lake Ontario “Lake America,” the headlines sang about nationalist bravado, but the real stakes lie in a fissure that threatens the very architecture of North American integration. In a world where the United States and Canada together account for roughly 20% of global GDP and $600 billion in bilateral trade last year, any sustained disruption reverberates through supply chains, financial markets, and the political legitimacy of the institutions that have mediated this partnership since the 1994 NAFTA. The immediacy of Carney’s admonition – “start being serious” – is a signal that the underlying contract of mutual tolerance is fraying, and that the next decade could see a continent re‑shaped by forces that no one is currently pricing in. The Signal Most observers focus on the headline tariffs – 50% duties on $20 billion of Canadian steel and lumber, and a...