Setting sail

Setting sail

C-Suite 46: The Trump presidency inaugurates a new era for politics and business alike.

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Partner, Global Chair - Consumer Markets, Partner-in-Charge - High Growth Markets

KPMG in Canada

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Setting sail

The Donald Trump presidency dominates the latest C-Suite Survey, with Canadian executives extraordinarily ambivalent as they examine the impacts his Administration is already having – and will continue to have – on the Canadian economy. Concurrently, economic confidence is up significantly this quarter on the outlook of both the Canadian and US economies compared to last quarter and even more when compared to six months ago.

Top Highlights

Boost to the Canadian economy

  • 7 in 10 of C-Suite expect their business to at least somewhat benefit from the new Administration’s policies and direction
  • Most believe the TSX will be buoyed by the new Administration’s policies
  • Many cite an agenda of lower corporate taxes, less regulation and approval of Canadian resources as positive announcements. 40% of Canadian executives believe they will benefit at least somewhat from Trump Admin’s support for Keystone XL

 

Cautions regarding to trade

  • Despite positives to Canadian businesses and economy, C-Suite is at best cautiously optimistic about the new President
  • Only half of Canadian business leaders said the Administration is doing well when it comes to economic policy. Few have confidence in its handling of the trade and immigration files
  • Resources executives are concerned about a border adjustment tax while services and manufacturing sector executives are concerned about the future of NAFTA
  • Although most of C-Suite agrees NAFTA could be improved in a way that benefit Canada, fewer expect trade talks will be advantageous to Canada

 

New frontiers

  • Most of C-suite believes Trump Administration’s border policies are an opportunity for Canada to lure skilled talent
  • Half believe the Administration’s posture on trade is reason to redouble Canada’s efforts to reach out to Asia-Pacific markets. Conversely, half think Canada must put all efforts into maintaining if not improve trade access with the US.
  • Canadian executives are divided on Trump’s proposals to deregulate financial services, with roughly half disagreeing with the direction the White House has signaled

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