Trade relations: Canadian bank boss McKay: "We are too dependent on the US economy"
Canada wants to strengthen its trade relations with Europe and Germany. The head of Canada's largest bank explains how cooperation could look in concrete terms - and what hurdles he sees.
Royal Bank of Canada (RBC) CEO Dave McKay hopes for closer economic ties with Europe amid a trade dispute with the US. He says Canada is too heavily dependent on the US economy, which has been strained since US President Donald Trump's second term began. The trade crisis is a "structural turning point" for Canada, which needs to diversify its economy. McKay is optimistic about a new trade agreement with the US, but in the meantime, Canada is seeking to increase trade with Europe, with exports to the EU rising 24% in 2025.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
