diff -x .git -ur usd.orig/cmake/defaults/Options.cmake external_usd/cmake/defaults/Options.cmake
--- usd.orig/cmake/defaults/Options.cmake	2019-10-24 22:39:53.000000000 +0200
+++ external_usd/cmake/defaults/Options.cmake	2019-11-28 13:00:33.197957712 +0100
@@ -25,6 +25,7 @@
 option(PXR_VALIDATE_GENERATED_CODE "Validate script generated code" OFF)
 option(PXR_HEADLESS_TEST_MODE "Disallow GUI based tests, useful for running under headless CI systems." OFF)
 option(PXR_BUILD_TESTS "Build tests" ON)
+option(PXR_BUILD_USD_TOOLS "Build commandline tools" ON)
 option(PXR_BUILD_IMAGING "Build imaging components" ON)
 option(PXR_BUILD_EMBREE_PLUGIN "Build embree imaging plugin" OFF)
 option(PXR_BUILD_OPENIMAGEIO_PLUGIN "Build OpenImageIO plugin" OFF)
diff -x .git -ur usd.orig/cmake/defaults/Packages.cmake external_usd/cmake/defaults/Packages.cmake
--- usd.orig/cmake/defaults/Packages.cmake	2019-10-24 22:39:53.000000000 +0200
+++ external_usd/cmake/defaults/Packages.cmake	2019-11-28 13:00:33.185957483 +0100
@@ -64,7 +64,7 @@
 endif()
 
 # --TBB
-find_package(TBB REQUIRED COMPONENTS tbb)
+find_package(TBB)
 add_definitions(${TBB_DEFINITIONS})
 
 # --math
diff -x .git -ur usd.orig/pxr/base/lib/plug/initConfig.cpp external_usd/pxr/base/lib/plug/initConfig.cpp
--- usd.orig/pxr/base/lib/plug/initConfig.cpp	2019-10-24 22:39:53.000000000 +0200
+++ external_usd/pxr/base/lib/plug/initConfig.cpp	2019-12-11 11:00:37.643323127 +0100
@@ -69,8 +69,38 @@
 
 ARCH_CONSTRUCTOR(Plug_InitConfig, 2, void)
 {
+    /* The contents of this constructor have been moved to usd_initialise_plugin_path(...) */
+}
+
+}; // end of anonymous namespace
+
+/**
+ * The contents of this function used to be in the static constructor Plug_InitConfig.
+ * This static constructor made it impossible for Blender to pass a path to the USD
+ * library at runtime, as the constructor would run before Blender's main() function.
+ *
+ * This function is wrapped in a C function of the same name (defined below),
+ * so that it can be called from Blender's main() function.
+ *
+ * The datafiles_usd_path path is used to point to the USD plugin path when Blender
+ * has been installed. The fallback_usd_path path should point to the build-time
+ * location of the USD plugin files so that Blender can be run on a development machine
+ * without requiring an installation step.
+ */
+void
+usd_initialise_plugin_path(const char *datafiles_usd_path)
+{
     std::vector<std::string> result;
 
+    // Add Blender-specific paths. They MUST end in a slash, or symlinks will not be treated as directory.
+    if (datafiles_usd_path != NULL && datafiles_usd_path[0] != '\0') {
+        std::string datafiles_usd_path_str(datafiles_usd_path);
+        if (datafiles_usd_path_str.back() != '/') {
+            datafiles_usd_path_str += "/";
+        }
+        result.push_back(datafiles_usd_path_str);
+    }
+
     // Determine the absolute path to the Plug shared library.
     // Any relative paths specified in the plugin search path will be
     // anchored to this directory, to allow for relocatability.
@@ -94,9 +124,24 @@
     _AppendPathList(&result, installLocation, sharedLibPath);
 #endif // PXR_INSTALL_LOCATION
 
-    Plug_SetPaths(result);
-}
+    if (!TfGetenv("PXR_PATH_DEBUG").empty()) {
+        printf("USD Plugin paths: (%zu in total):\n", result.size());
+        for(const std::string &path : result) {
+            printf("    %s\n", path.c_str());
+        }
+    }
 
+    Plug_SetPaths(result);
 }
 
 PXR_NAMESPACE_CLOSE_SCOPE
+
+/* Workaround to make it possible to pass a path at runtime to USD. */
+extern "C" {
+void
+usd_initialise_plugin_path(
+    const char *datafiles_usd_path)
+{
+    PXR_NS::usd_initialise_plugin_path(datafiles_usd_path);
+}
+}
diff -x .git -ur usd.orig/pxr/usd/CMakeLists.txt external_usd/pxr/usd/CMakeLists.txt
--- usd.orig/pxr/usd/CMakeLists.txt	2019-10-24 22:39:53.000000000 +0200
+++ external_usd/pxr/usd/CMakeLists.txt	2019-11-28 13:00:33.197957712 +0100
@@ -1,6 +1,5 @@
 set(DIRS
     lib
-    bin
     plugin
 )
 
@@ -8,3 +7,8 @@
     add_subdirectory(${d})
 endforeach()
 
+if (PXR_BUILD_USD_TOOLS)
+    add_subdirectory(bin)
+else()
+    message(STATUS "Skipping commandline tools because PXR_BUILD_USD_TOOLS=OFF")
+endif()
diff -Naur external_usd_orig/pxr/base/lib/tf/preprocessorUtils.h external_usd/pxr/base/lib/tf/preprocessorUtils.h
--- external_usd_orig/pxr/base/lib/tf/preprocessorUtils.h	2019-10-24 14:39:53 -0600
+++ external_usd/pxr/base/lib/tf/preprocessorUtils.h	2020-01-14 09:30:18 -0700
@@ -189,7 +189,7 @@
 /// Exapnds to 1 if the argument is a tuple, and 0 otherwise.
 /// \ingroup group_tf_Preprocessor
 /// \hideinitializer
-#if defined(ARCH_OS_WINDOWS)
+#if defined(ARCH_COMPILER_MSVC)
     #define TF_PP_IS_TUPLE(sequence) \
         BOOST_VMD_IS_TUPLE(sequence)
 #else
diff -Naur external_usd_base/cmake/macros/Public.cmake external_usd/cmake/macros/Public.cmake
--- external_usd_base/cmake/macros/Public.cmake	2019-10-24 14:39:53 -0600
+++ external_usd/cmake/macros/Public.cmake	2020-01-11 13:33:29 -0700
@@ -996,6 +996,12 @@
     foreach(lib ${PXR_OBJECT_LIBS})
         string(TOUPPER ${lib} uppercaseName)
         list(APPEND exports "${uppercaseName}_EXPORTS=1")
+        # When building for blender, we do NOT want to export all symbols on windows.
+        # This is a dirty hack, but USD makes it impossible to do the right thing
+        # with the default options exposed.
+        if (WIN32)
+            list(APPEND exports "PXR_STATIC=1")
+        endif()
     endforeach()
     foreach(lib ${PXR_OBJECT_LIBS})
         set(objects "${objects};\$<TARGET_OBJECTS:${lib}>")