TORONTO – RBC’s chief executive says trade talks with the United States are part of a normal process but that ultimately, the CUSMA agreement is too important to Canada, Mexico and the U.S. for any of them to walk away.
Speaking at an event hosted by Bloomberg, CEO Dave McKay played down suggestions the relationship between U.S. and Canada is increasingly fraught at a time when the bank has been expanding south of the border.
He says trade between the two countries remains strong and largely balanced, and that expanding in Europe and Asia can happen at the same time as U.S. growth.
The Canada-U.S.-Mexico trade agreement is approaching a July 1 deadline for the countries to rubber-stamp an extension, but McKay noted the agreement will remain in place until at least 2036 regardless.
McKay says trade negotiations aren’t out of the ordinary as economies evolve, and that he’s confident the countries will come to an agreement over time, even though it’s a protracted process.
He says there are challenges to trading with countries farther away from each other but that new bilateral relationships will start to grow.
This report by The Canadian Press was first published June 16, 2026.
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