Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Oil & Gas

Canada's executives fretting over Trump

Stock markets have shown a positive response since his election last November.

There's no doubt President Donald Trump has his fans, but it's also well known he has his detractors, including some in the Canadian business world, who believe the future is too up in the air.

Many have lauded his pro-growth business policies in the US, albeit some have yet to be properly manifested.

And stock markets have shown a bullish response to his election into the White House last November.

But over in Canada, not everyone is so upbeat, notably in the light of upcoming NAFTA (North American Free Trade agreement) talks.

NAFTA is the deal signed by Canada, Mexico, and the United States, creating a trade block, and something Trump has openly criticised.

The Globe and Mail in Toronto reported today that the longer he is in office .."the more frustrated Canada's executives become".

Nearly two-thirds of Canada's corporate leaders now believe Trump has done a poor job since taking office, up from 39% a quarter ago, according to a Gandalf Group survey, says the paper.

Nearly 90%, meanwhile, are worried about the implications of politics on trade and trade agreements.

"With North American free-trade agreement talks looming as soon as August, the number of business leaders bracing for major trade changes for Canada has grown -- 74 per cent now, compared with 60 per cent in the prior quarter.

"As the purportedly pro-business President enters his sixth month in office, the business leadership in his country's second-biggest trading partner is not sure how to navigate the course he is setting."

One of those who has concerns is the chief executive of Alberta - focused oil producer Prairie Provident Resources (CVE:PPR).

He was quoted in the paper as saying: "When you have an unknown, you worry," says Tim Granger, chief executive officer of Prairie Provident Resources in Calgary.

"A possible border adjustment tax would make the United States a more expensive export market for Canadian oil producers such as Prairie Provident which already must deal with low commodity prices."

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK