Roberts Nash Advisory Group

Canada's C$25 Billion Gift to the United States

What do you get for the man that has everything, one Donald J. Trump? He’s already commander-in-chief of world’s strongest military, has the fastest growing economy in the developed world, a robust labour market, still-lofty equity market valuations (despite some recent carnage), and an army of confident businesses/consumers. He’s taken it upon himself to wrestle relative tax competitiveness away from any number of other nations, including ours. But we Canadians are a generous bunch. In addition to ceding marginal business investment to our southern neighbour and offering up notable concessions (in dairy and elsewhere) to gain admission to the USMCA (or NAFTA 2.0 if you prefer), we’ve looked inside ourselves and asked: what else could we possibly gift to our great American allies? The answer: C$25 billion/year of heavily, heavily discounted Canadian oil. “You’re welcome America!  Yours truly, Canada.”

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** I have prepared this commentary to give you my thoughts on various investment alternatives and considerations which may be relevant to your portfolio. This commentary reflects my opinions alone, and may not reflect the views of National Bank Financial Group. In expressing these opinions, I bring my best judgment and professional experience from the perspective of someone who surveys a broad range of investments. Therefore, this report should be viewed as a reflection of my informed opinions rather than analyses produced by the Research Department of National Bank Financial **

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