Canada’s economic ties with the

United States

represent the world’s most successful bilateral relationship that needs to be “preserved and grown,”

Bank of Montreal

chief executive

Darryl White

said on Tuesday after being included in Prime Minister

Mark Carney

‘s new advisory committee on Canada-U.S. economic relations.

The 24-member team will act as a “forum for expertise and strategy” on all aspects of the economic relationship between the two countries, the federal government said, as the review of the Canada-U.S.-Mexico Agreement (

CUSMA

) looms.

“Preserving and growing (Canada-US economic ties) — while working to give Canadian businesses more options to serve customers around the world — is the balance that will define Canadian prosperity for a generation,” White said.

Other members of the advisory committee include Canadian National Railway Co. chief executive Tracy Robinson, TC Energy chief executive François Poirier and former federal Conservative leader Erin O’Toole.

Currently, 85 per cent of Canada’s trade with the U.S. is tariff-free as a result of CUSMA and Ottawa wants to hold onto that “unique Canadian advantage,” the government said.

Canadian-U.S. trade has increased by more than 27 per cent, or $196 billion, since CUSMA came into force. The two countries exchanged nearly $3.6 billion in goods and services every day in 2024.

BMO relies on its U.S. segment for more than 40 per cent of its overall earnings.

White, on the bank’s Investor Day in March, said the bank is aiming to improve the return on equity of its U.S. business to 12 per cent from about eight per cent as it tries to boost its overall returns.

• Email: nkarim@postmedia.com

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