Wednesday, November 09, 2016

Trump might be good for Canada

"Trump had expressed unqualified support for importing Canadian energy in general, and the Keystone XL pipeline in particular. Clinton, on the other hand, once a staunch Keystone backer, had chosen to flip and turn against it, as a way to appease the most left-wing Democrats. Canadians, and struggling Albertans especially, can renew their hopes that we might soon be sending up to a million more barrels of our oil every day to American refineries.

Just as importantly for Canada’s exporters, Trump has promised to slash U.S. federal corporate income taxes — those combined top marginal corporate rates are currently some of the highest in the world — from 35 per cent to 15 per cent. Eager to lure home the US$2.4 trillion of American corporate profits sitting idle offshore, Trump has shrewdly promised a one-time, low tax rate of 10 per cent that, if enacted, will encourage major corporations to repatriate their cash and reinvest it back in the U.S., a massive private stimulus program that will do much to spur demand for Canadian exports." Kevin Libin Financial Post Read more here

And don't forget the beleaguered Keystone XL 

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