Scotiabank CEO supports free trade but wants governments to address concerns
TORONTO — Scotiabank CEO Brian Porter is calling for updates to the North American Free Trade Agreement, but he says positive dialogue about open trade is needed to combat the growing tide of protectionism emerging around the world.
“There’s angst out there,” Porter told reporters following the bank’s (TSX:BNS) annual shareholder meeting Tuesday.
Much of the worry around free trade stems from the fact that technological progress is changing the economy and, in some cases, eliminating jobs, Porter said.
“That’s the issue,” said Porter. “It’s not necessarily trade.”