The Financial Post reports in its Friday, April 3, edition that Canadian National Railway chief executive officer J.J. Ruest said Thursday he does not expect the rail business to recover until the fourth quarter or even 2021. The Post's Emily Jackson writes that Mr. Ruest said: "We're going to see the real impact of coronavirus in both Canada and the United States in the month of April. May will be worse." CN had a strong March after a rough patch including a labour strike last year and rail blockades in February, but activity started to slow in the past 10 days, Mr. Ruest said. The problem has shifted from one of supply from earlier in the year when China went into lockdown to one of demand as millions of North American consumers lose their jobs and stay at home. He expects a tough second quarter and a flat third quarter, with some potential for recovery in the last quarter of the year and the potential for a strong 2021 as companies work to fulfill pent up demand. While some financial market analysts expect a steeper, V-shaped rebound, Mr. Ruest expects the freight business recovery will be U-shaped as it takes more time for consumers to start shopping and factories to resume higher levels of production.