Canada’s national ambitions give hope to industrials

Episode notes

RBC's Canadian Industrials Conference in Toronto wrapped with more reasons for optimism than many expected. In this conference takeaway, Walter Spracklin, Director of Canadian Research and Co-Head of Global Industrials Research, debriefs with analysts Sabahat Khan, James McGarragle, and Matthew McKellar on the key themes that emerged. Steel producers are finding ways to mitigate U.S. tariffs, the freight recession is easing, and the most significant buzz centred on the government's nation-building infrastructure and defence plans. Key Points • Canada’s nation-building plans are boosting industrial confidence, while its defense strategy creates a tailwind for the country’s aerospace sector. • Tighter supply has helped to ease the long-running freight recession. • Steel suppliers are diversifying from U.S. exposure to mitigate trade tariffs. • Tariffs have also hit lumber hard, with supply tightening in response. • AI deployment is positioning the transport sector for operational efficiencies. Introductions [00:06] Host Walter Spracklin refers to RBC’s recent Canadian industrials conference in Toronto, which heard from 38 participating companies.

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