Happy Friday!

Happy Friday!

Despite All the Vegetables, Some Very Sweet Treats

The Takeaway: We view yesterday as incrementally positive for tax reform’s prospects and therefore reposition our 75% odds as now trending up that both chambers of Congress can pass a measure by the end of 1Q2018. We were encouraged by the following developments in areas we’ve been watching: 1) reaction by House Ways and Means…

Shrey Verma in Nikkei Asian Review: US ‘reciprocal tax’ concept could threaten Asian exports

Alternative to mooted 20% impost on imports would disrupt global supply chains While Trump and his economic advisers have yet to present any concrete details around the idea of a “reciprocal tax,” the idea should not be dismissed. According to news reports, the Trump administration’s draft negotiating objectives for revamping the North American Free Trade…

Canada: Alberta, Alberta

Summary: On May 26, for the first time in 44 years, the Canadian Province of Alberta will be governed by the left-leaning New Democratic Party (NDP). After a 28-day election, the right-leaning Progressive Conservatives (PCs) were trounced at the polls, putting the fate of tax rates, environmental policy, and royalty rates for oil and gas…

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