A CNBC report quotes global chairman and CEO of EY, Mr. Weinberger as saying that protectionist policies of the Trump administration could negate the economic benefits of the US tax reforms.
Key quotes (Source: CNBC)
"(What) everyone has to keep an eye on is the trade issue. A lot of it is also dependent on NAFTA and KORUS and all these trade deals keeping the supply chain to be able to invest that way, and that's a big issue for 2018."
"This isn't a huge tax haven now, the United States, it just brings it in line with the rest of the world so what it's really going to do is take away that incentive to move your business offshore, to keep your money offshore."
"If you're going to invest that next dollar, if you're going to enter into an M&A transaction, now it's cheaper to invest in the United States because the corporate rate is down, you will think more about making that incremental investment in the United States as opposed to somewhere else."
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