Hi. It's Tony Chapman. I'm breaking format today by putting out a special edition to Chatham that matters. My motivation is a terror of war launched by president Donald Trump, and what's gonna be needed over the next 100 days. To me, more than anything else, we need extraordinary leadership. We don't need grandstanding, people looking to score political points. We don't need toxic volleys flying across the border. What we need is to walk in
the shoes of everyday citizens on both sides of the border. Think about their lives, their livelihoods, our communities, our economies, our country, continent, North America, and the world. I wanna share with you a note that David McKay, the president of RBC, wrote to his employees. I'm sharing it with you because I think it deserves a much wider
berth. I'm hoping it travels effortlessly across the private and public sector, and not only in Canada and United States, but around the world because it's about people working together, solving problems, and going for a greater good. So here's what he had to say. I'm sure you've been following the news of president Trump's unprecedented decision to impose tariffs on key trading partners. I wanted to post a
response shared with RBC employees today. Many are feeling upset and disappointed that the long standing successful economic partnership between Canada and the US has been put into question, and I share those feelings too. More than a century, Americans and Canadians have been steadfast allies, friends, working and thriving together through some of the most challenging moments in
history. Over 1,000,000,000,000 in goods and services are reliably exchanged between the two countries through a balanced trade relationship and deeply integrated supply chain. This is good for businesses, workers, and families on both sides of the border. It's been good for RBC 2 as a Canadian bank that proudly calls the US our second home market. At a time when our world is becoming more divided,
this relationship should be becoming even stronger. This view is at the heart of the trade agreement between the US, Canada, and Mexico, and it's shared by a majority of Canadians and Americans across the political spectrum. There are no winners in a prolonged trade war between allies, especially 2 nations that each have their own deep rooted identity, unique culture, and a
strong sense of independence. The tariffs could severely impact jobs and hurt affordability for Canadian and American workers and families, and many small and midsized businesses will be put at risk as the cost of doing business goes up. As we navigate the weeks ahead, RBC will stay focused on our clients and communities when they need us most. Our bank has the financial resilience and expertise to help clients navigate difficult economic
times. We're already working closely with the Canadian government to develop tools to support clients just as we did during the pandemic. On a personal note, I believe this is the moment to unite the country behind a long term economic agenda, one that boosts competitiveness and drives prosperity for all. The world wants what Canada can provide in great abundance. We can feed and fuel the growing world and be a leader in energy, agriculture, critical minerals, advanced
manufacturing, and technology. To do this, Canada must build a more resilient economy that leverages its strengths. That means removing internal trade barriers, getting high impact energy and infrastructure projects approved faster, supporting homegrown tech innovation, improving our tax competitiveness, and unlocking more capital to scale our best
engines of economic growth. This is important for Canada's long term economic partnership with the US, also our ability to strengthen and diversify economic ties with other trading partners. RBC has long spoken out about the need for Canadian business policy makers to work together with greater ambition, coordination, and urgency. Now is the time to unite and do just that. Ladies and gentlemen, that is a lesson in extraordinary leadership. It's not about David MacKay.
It's not about the bank. That's about walking in the shoes of Canadians and Americans. It's about their lives, their livelihood. The small and medium sized businesses, the communities about building a better world and building a stronger Canada. Stony Chapman. Let's chat soon.