19:50:05 EDT Thu 31 Oct 2024
Enter Symbol
or Name
USA
CA



Toronto-Dominion Bank
Symbol TD
Shares Issued 1,781,900,074
Close 2024-01-12 C$ 80.49
Market Cap C$ 143,425,136,956
Recent Sedar Documents

Globe says TD, rivals hear international trade stalling

2024-01-15 07:43 ET - In the News

Also In the News (C-BMO) Bank of Montreal
Also In the News (C-BNS) Bank of Nova Scotia
Also In the News (C-CM) Canadian Imperial Bank of Commerce (CIBC)
Also In the News (C-NA) National Bank of Canada
Also In the News (C-RY) Royal Bank of Canada

The Globe and Mail reports in its Saturday edition that much of the income Canadians earn comes, either directly or indirectly, through international trade. The Globe's guest columnist Timothy Lane writes that in this global environment, that task is becoming increasingly difficult. The number of trade restrictions and other interventions that harm trade worldwide has gone up sharply, with little action to liberalize trade. This is happening against the backdrop of heightened geopolitical stresses. In addition, supply chain problems have led to calls for reshoring and friend-shoring, which, ironically have actually lengthened supply-chain issues. Fortunately, global trade has not been declining, but trade deepening is no longer the engine of global growth it was at the start of this century. In this context, Canada's trade has been harmed by about 3,800 restrictive trade measures that other countries have introduced in the past 15 years, while Canada has implemented about 950 new trade-distorting measures of its own. Trade has long been a source of competition and efficient specialization for Canada, and stalling international trade is surely contributing to our dismal productivity and weak per capita GDP.

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