Canada is in the early stages of a generational shift in our economy.
We entered the 2020s knowing advanced technologies, an aging population and disruptive climate would each transform our economy in different ways. And now a reordering of global trade has hit us, with even more force, along with new opportunities.
The U.S. trade war has cut to the heart of every sector. Eight out of ten Canadian businesses report being impacted, and yet only three out of ten are confident they can overcome the impact.
As these businesses are learning, the country needs to look at our economic strategies, investment plans and market ambitions in a new light.
RBC Thought Leadership is here to help, with ground-breaking research, original data and incisive commentary, aimed at helping our clients and communities navigate these new economic waters. You can find it all at The Trade Hub, a new RBC platform that highlights Canada’s economic opportunities and challenges amid shifting trade alliances.
Our team has already examined how:
— Canada can replace China as the primary critical minerals supplier to the U.S., helping Americans avoid a $600-billion supply chain risk from one mineral alone, gallium;
— the lumber industry can seize on new trends in packaging and buildings to secure more valuable, and reliable, markets;
— U.S. tariffs and trade resrictions on steel and aluminium are unlikely to boost U.S. production, leaving Canadian exports with a unique challenge, and opportunity;
— a new agri-food trade strategy could return Canada to a Top 5 position among global exporters, reversing our decline to 7th place.
We recognize that current tensions with the U.S. are about much more than trade, and speak to a re-ordering of global security that will require Canada to re-assess border, military, energy and immigration policies as part of a broader North American security partnership. We’re exploring those challenges, too.
The Trade Hub aims to distill these critical issues and cover areas as diverse as agriculture, energy, critical minerals and manufacturing supply chains, as well as the regulations and policies that drive investments into Canada.
Here's why you will find RBC Thought Leadership’s analysis unique and essential:
Deep knowledge: Our team is made up of subject matter experts in macroeconomics, trade, energy and mining, agriculture, technology and manufacturing, as well as cross-cutting issues such as Indigenous reconciliation, clean tech and sustainability. We aim to bring a big picture look to every issue we explore.
Team RBC: Our researchers regularly tap the expertise of more than 90,000 RBC executives and staff who speak to North American and international businesses and consumers—our clients—every day. We rely on the trust of those clients to give you a real world view of complex issues.
Practical insights: Our researchers regularly travel the country— from large-scale farms in Saskatchewan and manufacturing plants in Quebec, to nuclear power plants in Ontario and feedlots in Alberta—to gather on-the-ground information and insights before they become established trends.
Keep an eye on The Trade Hub as we release new research to help keep Canadians informed and build a resilient economy.
Read some of our latest insights here:
Follow RBC Thought Leadership on LinkedIn here.
John Stackhouse is senior vice-president, office of the CEO, at Royal Bank of Canada, and head of RBC Thought Leadership
If you would like more information on how RBC can support your business, please contact James Stuart at james.m.stuart@rbc.com.
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