01:39:18 EDT Tue 21 Jul 2026
Enter Symbol
or Name
USA
CA



National Bank of Canada
Symbol NA
Shares Issued 384,468,952
Close 2026-07-16 C$ 234.34
Market Cap C$ 90,096,454,212
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Globe says National Bank sees manufacturing at risk

2026-07-20 08:39 ET - In the News

The Globe and Mail reports in its Saturday edition that Canada is in its third year of a manufacturing recession. The Globe's Tim Shufelt writes that a KPMG survey found that over 40 per cent of Canadian companies have moved or are mulling moving production to the United States, as the sector faces survival challenges. Mr. Shufelt says this is exactly what the Trump administration wants. National Bank of Canada chief economist Stefane Marion says: "Time is not on the side of Canadians. We can't let our manufacturing atrophy continue the way it is right now." He says, "Getting USMCA renegotiation across the finish line is paramount." This is the dilemma -- how to hold firm against American hostility while the costs mount by the day. Surprisingly, the Gordie Howe bridge fiasco may offer a path forward. Getting shaken down over a bridge Canadian taxpayers financed is an outrage. Still, the pragmatic approach was in Canada's best interest. By Prime Minister Mark Carney's account of the terms, Canada retained the essence of the original deal, including the repayment of construction costs before any revenue sharing occurs. If so, U.S. President Donald Trump may have secured a symbolic victory, but little else.

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