By Daniel Johnson Canada’s big banks say the economy is proving resilient amid renewed trade tensions, with most seeing the challenge as manageable. While executives expressed optimism that the evolving trade situation could be dealt with, they largely acknowledged the uncertain environment as a headwind to certain sectors and Canadian consumers. “While Canada and the U.S. have yet to come to a longer-term solution, we note the average effective tariff rate remains low at approximately six per cent, with over 80 per cent of exports remaining duty-free,” RBC CEO Dave McKay said during his company\u2019s earnings call. Executives at Scotiabank also characterized the latest flare-up in tensions as “manageable” for the domestic economy. “The fundamentals in Canada are pretty good, if you look at the job growth numbers, if you… <\/p>\n
By Daniel Johnson Canada’s big banks say the economy is proving resilient amid renewed trade tensions, with most seeing the challenge as manageable. While executives expressed optimism that the evolving trade situation could be dealt with, they largely acknowledged the uncertain environment as a headwind to certain sectors and Canadian consumers. “While Canada and the U.S. have yet to come to a longer-term solution, we note the average effective tariff rate remains low at approximately six per cent, with over 80 per cent of exports remaining duty-free,” RBC CEO Dave McKay said during his company\u2019s earnings call. Executives at Scotiabank also characterized the latest flare-up in tensions as “manageable” for the domestic economy. “The fundamentals in Canada are pretty good, if you look at the job growth numbers, if you... <\/p>\n