Donald Trump’s victory is causing uncertainty. While the stock market got back to normal after an initial plunge last night, worry still remains. Prince George residents are feeling shocked and surprised by the outcome. KPMG Tax Partner, Stan Mitchell, keeps a close eye on the local economy. He suggests investors hold the course until some policies are formed. “I guess to me biggest thing is a lot of what Trump talked about or what his policies are, he didn’t have a lot of meat behind them. It’s really going to be what he is really going to carry through with and what kind of people he starts to surround himself with.”
Some of the things Trump has said about trade with other countries is something we have to watch for. “A lot of the lumber that leaves the Mills in Prince George heads across the borders and that’s one thing that is going to hit pretty soon I would think. Of course, the softwood lumber agreement expired last month.”
Mitchell says another factor to consider is Trump’s position on the Keystone Pipeline. “If they open that up, there’s a lot of areas in the northern region that we do have oil and gas…and if we have oil and gas going somewhere else, that’s one more place that yours can go.”
He adds there will be uncertainty for a while.