Bank Chiefs See Opportunity in Trade Turmoil

Canadian bank CEOs Darryl White of BMO and Scott Thomson of Scotia say US President Donald Trump's latest tariffs are manageable, but urge Ottawa to accelerate economic change.

In an effort to reduce reliance on the US, the federal government created the Major Projects Office last year. The agency focuses on speeding up key projects that will boost Canada's economy, such as a nickel mine in Ontario.

White and Thomson believe this moment should be used to drive transformational policy change, rather than letting it go to waste. They say Ottawa needs to continue taking steps like these to reduce its reliance on the US and accelerate economic growth.

The two CEOs also point out that the impact of the latest tariffs on Canada's economy is expected to be small, with support from the government helping to lessen the blow. BMO relies on its US business segment for about 40% of its earnings.