Word just dropped about a significant call between two major North American figures. Carney and Sheinbaum got on the line to hash out details around the recent bilateral framework that's been taking shape between their nations.

What's particularly interesting here? The conversation wasn't just backward-looking. They spent time mapping out the road ahead, specifically eyeing the upcoming USMCA negotiations. For those tracking macro moves, these trade discussions matter more than casual observers might think.

The USMCA—the trade pact binding Canada, Mexico, and the US—is due for review, and smart money is watching how these preliminary talks unfold. Trade policy shifts have this funny way of rippling through asset markets, crypto included. Regulatory frameworks, cross-border payment flows, even institutional sentiment—all get touched when major economies recalibrate their economic relationships.

Carney, with his central banking background, brings a particular lens to these discussions. Sheinbaum, navigating Mexico's position in this three-way dynamic, has her own priorities. The framework they're building could set the tone for how North American trade evolves in the coming years.

No dramatic announcements yet, but the fact that groundwork is being laid now tells you something about the timeline and seriousness of what's coming.