Market Talk – April 25, 2024
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 831.60 points or -2.16% to 37,628.48 Shanghai increased 8.08 points or 0.27% to 3,052.90 Hang [...]
NAFTA & CANADA
QUESTION: Mr. Armstrong; Up here in Canada, the politicians seem to not even talk about the NAFTA agreement being changed by Trump. Has something taken place behind the curtain that they are not even worried about that issue?
CB
ANSWER: While playing a front row seat during the 2016 Election in the States, the truth is that Trump was focusing more on Mexico than Canada. The reason why was taxes. Manufacturing plants set up in Mexico, not Canada, which taxed even higher rates than the USA.
Even Stephen S. Poloz, Governor of the Bank of Canada, has set aside the issue of NAFTA claiming there remains uncertainty until he knows more about the nature of the risk, he will not focus of that topic.
The much greater risk to Canada will be the Trump Tax Reform. Canadians will also shift business to the States because it will save 50% in taxes. So, the tax reform is a far bigger issue than NAFTA.
Latest Posts
PRIVATE BLOG – The Reality Hits the Markets into May 7th
PRIVATE BLOG – The Reality Hits the Markets into May 7th Private blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com. [...]
US GDP & Recession into 2028
QUESTION: Mr. Armstrong, Socrates correctly picked March as the Directional Change, and it looks like there will be a sharp decline into June. Are you expecting a serious recession with [...]
See You Next Month?
See you in precisely one month at the London Economic Confidence Model Seminar! Can’t attend in person? Keep reading to learn about our virtual ticket option. Prepare to embark on [...]
