Trump administration: Impacts to Canadian businesses operating in the US

New year. New administration. New tax changes.  

President Donald Trump's second tenure in the White House officially began on January 20, 2025, when he was inaugurated as the 47th President of the United States. The Republicans also control both the Senate and the House, which could make it easier for them to implement their plans during the next four years.  

The longstanding partnership between Canada and the United States is complex and deeply intertwined—making highly publicized and significant potential changes to US tax policies a key concern for businesses in Canada operating cross-border. Pre- and post-election, Trump has conveyed that a wide range of tax and tariff changes are on the horizon and he's looking to put them into force quickly. This has business owners asking, how will these changes impact them and what planning needs to be put in place ahead? 

During this session, our US tax professionals will discuss the following anticipated income tax changes and how you can prepare: 

• Potential changes to the Corporate Tax Rate 
• Proposed tax incentives for US based manufacturing 
• Extension of the Tax Cuts and Jobs Act (TCJA) Provisions of 2017 
• Withdrawal from the OECD's Pillar Two global minimum tax agreement and the impact on international tax 

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