US EditionTariffs already slowing business activity, RBC CEO McKay says
- Royal Bank of Canada CEO Dave McKay stated that tariffs are slowing business activity, with impacts dependent on the duration of the trade war.
- U.S. President Donald Trump imposed 25% tariffs on Canadian goods and 10% on energy, prompting Canadian Prime Minister Justin Trudeau to retaliate with $30 billion in tariffs on U.S. Goods.
- The tariffs have created uncertainty for consumers and businesses, leading to layoffs and slowed investment decisions among small businesses.
- The National Retail Federation warned that ongoing tariffs will cause higher prices for American consumers on household goods.
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Tariffs arrive when the pulp and paper business is already in a 'difficult place,' says CEO
The CEO of the pulp and paper mill in Kapuskasing, Ont., says he was not surprised but is disappointed by U.S. tariffs that are expected to have a big impact on Canada’s forestry sector.
·Canada
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BMO, RBC say interest rates could fall harder and faster with tariffs in play
Two of Canada’s largest banks say interest rates could fall faster and ultimately end up lower than previously predicted, as the consequences of a trade war with the U.S. are set to ripple through the Canadian economy.
·Canada
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RBC’s McKay Warns of Hit to Economic Growth From US Tariffs
Royal Bank of Canada’s Dave McKay said he’s hopeful US tariffs end up being temporary but that it’s disappointing to see the trade war started by President Donald Trump potentially impeding broader economic growth.
·United States
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Leaning Left3Leaning Right1Center2Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 33%
R 17%
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