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RBC Chief Says Some Commercial Clients Are Anxious About NAFTA

Posted February 26, 2018

Under Economic Issues, International Trade Issues

(Doug Alexander – Bloomberg)

Uncertainty over ongoing Nafta negotiations is creating angst among Royal Bank of Canada’s business clients even as markets appear to shrug off the risks, Chief Executive Officer David McKay said.

“Some of our commercial customers remain concerned about it,” McKay said Friday during the bank’s quarterly earnings call. “It’s certainly impacting longer-term investment decisions that we see customers making.”

McKay, heads of the country’s second-largest lender by assets, said the North American Free Trade Agreement is “highly beneficial” for the U.S. and Canada, and he “remains hopeful” the two countries and Mexico can reach a positive outcome to the talks, which resume next week. Click here to read more.