“It would have major impacts on Canadian companies, Canadian investors in the U.S — they’d be downright punitive,” said Macdonald. “That would probably end up shutting down Canadian businesses in the U.S. and kicking Canadian investors out of the U.S.”

And the DST isn’t the only Canadian tax the U.S. could consider unfair now, or in the future, said Macdonald.

“I think this is the tip of the iceberg in terms of threats against Canadian corporate taxation that attempts to level the playing field between American transnationals and Canadian domestic companies that are paying corporate income taxes,” he said.

Macdonald said the proposed tax could also hit Canadians who don’t have direct investments in U.S. securities.

“This isn’t only for folks with an RRSP,” Macdonald said. “I mean, this could extend to the Canada Pension Plan, which is the major means by which people retire in Canada. They could potentially pay dramatically more.”

The Canada Pension Plan Investment Board declined to comment.

Around 80% of foreign direct investment (FDI) stock in the US could be hit by retaliatory tax hikes under a sweeping bill passed by the House of Representatives early this morning.

https://www.fdiintelligence.com/content/ac37705e-1540-44ca-a977-01d6da13ca68

https://www.youtube.com/watch?v=8sL9hJwJ7Ho

https://ca.news.yahoo.com/trumps-big-beautiful-tax-reform-080010612.html

‘Un friendly’ countries may see increases up to 20% . Canada is on that list for sure.

Armstrong just wrote warning of HUGE market crash like 1987 as investors pull the cash back home.

Meanwhile Con Carney and Gang have not said a peep about the failed tariff negotiations as they all are golfing until Sept 16th.