Emerging threats to trade and investment

National Advisor, Tax Services | Canadian Leader, Economics and Analytical Services
EY (Ernst & Young LLP)
Presentation to the
Irish Trade Mission and Business Summit
Friday 2 June 2017
Residence of the Irish Ambassador to Canada, His Excellency Jim Kelly
291 Park Road, Rockcliffe Park.

Ambassadors KeIly and Vickers, Minister Canney, fellow speakers and colleagues and invited guests,
I’m honoured to have been asked to speak on the occasion of this important business summit.
As the title of my presentation indicates, I intend to speak this morning about “emerging threats to
trade and investment”, and the common challenges of economic uncertainty shared by countries like
Canada and Ireland.

I don’t mean the challenges that virtually all countries are facing: those related to issues like climate
change, or terrorism, or the aging workforce’s impact on labour productivity and economic growth.
I mean specific events triggered by populist movements in a jurisdiction other than our own;

  • in Canada’s case, the aftermath of the US presidential election and the emerging policy reforms of
    the Trump Administration, in particular its tax, trade and immigration policies that appear to be
    fueled by a growing protectionist and isolationist movement in the US; and
  • in Ireland’s case, the aftermath of the BREXIT vote in the UK and the resulting uncertainty around
    Irish trade and border issues.

In both cases, these developments create business uncertainty. And we all know that uncertainty can
pose a threat both to the continuity of existing business relationships as well as to new investment
opportunities.

But rest assured, my remarks overall this morning will not be negative or pessimistic. Adversity always
presents a silver lining of opportunity, as the Irish know too well.esents a silver lining of opportunity, as the Irish know too well.

Download PDF – EY-Emerging Threats Trade Investment Speech