The Globe and Mail reports in its Friday edition that back in early 2017, the bosses at Canada's big banks practically gushed about the prospect of Donald Trump's first term as president. The Globe's Rita Trichur writes that Mr. Trump had yet to be inaugurated when the chief executive officers of RBC, TD and BMO, among others, spoke at an industry conference. "We do see a stronger growth agenda in the United States, we do anticipate pro-growth policy coming out of the new administration," RBC's Dave McKay said at the time. "That would potentially lead to higher rates, which is very good for our franchise in the United States." How times have changed. Fast-forward to Mr. Trump's second term, and the U.S. President, once a boon to Canadian banks with U.S. operations, is now a bane because of his chaotic trade war and disorderly domestic policies. "The President signalled a U.S. that wants to be more isolationist, it feels," Mr. McKay said in March. "I think that just runs contrary to what a hundred years of success in America is -- the multilateralism, the trade, leveraging the strengths around itself." He later added: "This playbook that we're running, we haven't run before. And I think that it is risky, for sure."