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RBC Heads for Europe, and Tariff Clock Hits Wednesday.
News for residents of the “11th province”: Canadians abroad.
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RBC Heads for Europe
RBC is putting more muscle into Europe as Canadian companies look for places to grow that aren’t so tied to Washington's mood swings.
The Globe and Mail says that RBC's capital-markets unit is hiring, adding products, and pushing forward in Britain and Europe. The region made up 18 percent of the unit's revenue in 2025.
The bank has about 1,300 people in Britain and Europe, with teams in Germany, France, Switzerland, Spain, and the Netherlands. Its regional capital-markets team has grown 16 percent in five years, and RBC has hired more than 20 managing directors there in the past year.
Read more: The Globe and Mail
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Tariff Clock Strikes on Wednesday
Canada and the U.S. are still in talks ahead of a Wednesday deadline for new 50 percent tariffs on Canadian goods. Global News says that officials were due to meet again as the August 19 date draws near; softwood lumber is near the centre of the fight.
RBC Economics says the latest Section 338 tariffs would target about 5 percent of Canada's exports. Its estimate calculates the hit at 0.4 percent of Canadian GDP and jobs, with apparel, electrical equipment, and appliance manufacturing the most exposed.
The cold comfort might be that four-fifths of Canadian exports to the U.S. would still be duty-free under CUSMA exemptions.
So, while the damage isn’t going to be to the whole economy. It is still might be a heavy blow.
Read more: Global News / RBC Economics