Published • loading... • Updated
New U.S. Tariffs and Trade Tensions Are 'Manageable,' Says Scotiabank CEO
The bank leaders said the tariffs are manageable but urged Ottawa to cut trade barriers and speed major projects to reduce U.S. reliance.
- On Tuesday, Bank of Nova Scotia CEO Scott Thomson and Bank of Montreal CEO Darryl White said the 50 per cent tariffs imposed by President Donald Trump on about $28 billion of Canadian goods are manageable.
- Trade talks collapsed last weekend, prompting Trump to impose 50 per cent tariffs on Canadian goods; Canada responded with retaliatory dollar-for-dollar levies on American products taking effect September 8.
- Scotiabank reported a record $2.95 billion third-quarter profit, while Thomson stated Canada's economic fundamentals remain strong despite trade uncertainty. He said the situation is "manageable" for the domestic economy.
- Thomson and White urged Ottawa to accelerate Prime Minister Mark Carney's economic agenda by removing interprovincial trade barriers and reducing approval times for key energy projects.
- Bank of Montreal has invested $16.3 billion to grow its footprint in the United States, positioning the lender to navigate trade diversification as the North American market evolves.
Insights by Ground AI
8 Articles
8 Articles
Scotia, BMO CEOs say Trump's latest tariffs are manageable, urge Ottawa to accelerate economic change
'There is an opportunity for the Canadian federal and provincial governments to recognize the moment for what it is and use it to drive transformational policy change'
·Toronto, Canada
Read Full Article
While Canadian companies are facing the latest surge in trade tensions with the United States, Scotiabank executives continue to view the trade situation as "manageable" for the national economy.
·Montreal, Canada
Read Full Article
Latest Canada-U.S. trade tensions come with risks but also opportunities: BMO
TORONTO — With all the risks that the latest Canada-U.S. tariff war brings, executives at BMO Financial Group also say it offers a chance for governments to drive sweeping change around internal trade, taxes and infrastructure.
Coverage Details
Total News Sources8
Leaning Left4Leaning Right1Center1Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 17%
R 16%
Factuality
To view factuality data please Upgrade to Premium
