The Financial Post reports in its Saturday edition that record quarterly results posted by Canada's biggest banks last week suggest the country's economy has been resilient in the face of President Donald Trump's trade war, but with Canada yet to strike a trade deal, the mood remains tense. The Post's Naimul Karim writes that five of the Big Six lenders comfortably beat analysts' expectations for the third quarter, with lenders such as the RBC and TD posting record profits, as revenues rose and less money was set aside to tackle bad loans. And yet, executives remained guarded. While there were talks of how the "uncertainty meter" had gone down and how spending on non-essential items had improved, bank chief executive officers pointed to the importance of the Canada-U.S.-Mexico agreement, which is coming up for renegotiation. TD Bank CEO Raymond Chun on Thursday said Canadian and U.S. economies have been resilient despite the uncertainty created by the tariffs. Still, these are early days. "It will likely be a long road before the full impact of tariffs is well understood," he said. "This is a time for bold, decisive leadership that unlocks Canada's economic potential and strengthens our productivity and resilience."
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