CALGARY – The CEO of Suncor Energy said he thinks it’s unlikely that the United States will bring in a border adjustment tax as has been suggested by some Republican lawmakers.
Steve Williams said trade with Canada doesn’t appear to be a major concern for U.S. President Donald Trump, adding that there are policies south of the border such as corporate tax reductions that can benefit Suncor.
He also says the appointment of former ExxonMobil CEO Rex Tillerson as secretary of state is encouraging as he is familiar with the oilsands industry and recognizes that Canadian oil and gas is vital to the American economy.
Get weekly money news
READ MORE: Donald Trump’s cabinet heavy on business experience, fairly light on public service
- Alberta referendum costs climbing with another $365K in promotion, says Nenshi
- Edmonton city council faces urgent call to address downtown business closures
- Oil prices spike, global stock markets mixed as Iran war escalates
- ‘Death by a thousand cuts’: Half a dozen downtown Edmonton restaurants closing
Williams’s views on the possibility of a border adjustment tax are counter to those of financial analysts who say declining values in Canadian energy stocks since the beginning of the year reflect investor concerns that the industry will be hit hard by such a levy.
The U.S. is Canada’s largest market for oil and gas.
Comments
Want to discuss? Please read our Commenting Policy first.