Bank CEOs see latest tariff dispute as manageable for Canadian economy
CEOs at Canada’s major banks say the economy remains resilient despite renewed trade tensions with the U.S. The impact is manageable, they said in separate earnings calls, while acknowledging risks to consumers and certain sectors. RBC and Scotiabank pointed to relatively low effective tariffs and solid domestic fundamentals. CIBC said it has strengthened reserves and stress-tested its loan portfolio against potential trade-related risks. The bank also expressed optimism about Prime Minister Mark Carney’s plans to boost infrastructure, defence and trade diversification, which it sees as potential opportunities for economic growth and investment.
