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US Tax Cuts Not the Biggest Threat to Canadian Business Competitiveness

The US$1.5 trillion in tax cuts represents the biggest achievement for Donald Trump’s presidency, and while it renders the Canadian business climate relatively less attractive, the bigger challenges for Canada are domestic
US Tax Cuts Not the Biggest Threat to Canadian Business Competitiveness
U.S. President Donald Trump, flanked by Republican lawmakers, celebrates Congress passing the Tax Cuts and Jobs Act on the South Lawn of the White House on Dec. 20, 2017 in Washington, D.C. The biggest threat to the Canadian economy comes from companies already operating in both countries that may move more operations to the United States. Chip Somodevilla/Getty Images
Rahul Vaidyanath
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NEWS ANALYSIS

The US$1.5 trillion in tax cuts represents the biggest achievement for Donald Trump’s presidency, and while it renders the Canadian business climate relatively less attractive, the bigger challenges for Canada are domestic, according to business experts.

The new U.S. average tax rate, including state and local taxes, falls from 39.1 percent to 26 percent—almost 1 percent below Canada’s all-in rate.

Rahul Vaidyanath
Rahul Vaidyanath
Journalist
Rahul Vaidyanath is a journalist with The Epoch Times in Ottawa. His areas of expertise include the economy, financial markets, China, and national defence and security. He has worked for the Bank of Canada, Canada Mortgage and Housing Corp., and investment banks in Toronto, New York, and Los Angeles.
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