Economics
Foreign Investment Holds Steady in Canada Despite U.S. Tax Cuts
- Manufacturing leads C$27 billion influx in first half of year
- Businesses had warned Trudeau capital would flee the country
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Fears of a mass investment exodus from Canada in the face of trade uncertainty and U.S. tax reforms aren’t materializing.
Foreign direct investment totaled C$8.9 billion ($6.9 billion) last quarter, according to Statistics Canada data released Wednesday in Ottawa. While down from a relatively strong first quarter, the overall picture in the first half of 2018 is an improvement on last year’s dismal numbers and a return to something more normal -- with the possible exception of a still-lagging energy industry.