1406 ET - The North American trade pact is too important to the U.S., Canada and Mexico to cancel, Royal Bank CEO Dave McKay reckons. McKay at a fireside chat in Toronto says the relationship between Canada and the U.S. remains strong, embedded in hundreds of billions of dollars in two-way trade. The countries are going through a process of renegotiating USMCA and McKays says that while this is a protracted process each nation is making progress is understanding the changes other administrations need. "There's been no mention of canceling the agreement...There's a big difference between termination and cancellation," he says, explaining would mean not extending USMCA for six years from 2036 while cancellation means giving notice of a permanent withdrawal. (robb.stewart@wsj.com)

(END) Dow Jones Newswires

June 16, 2026 14:06 ET (18:06 GMT)

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