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Title : Making America Great Again, T+3 -- January 24, 2018
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Making America Great Again, T+3 -- January 24, 2018

From Bloomberg, Campbell Soup is shifting Canadian production to its US factories. When I saw this I immediately thought that it was due to a) energy; and/or, b) taxes.

But I'm not exactly sure how taxes for a company headquartered in the US with production facilities elsewhere are affected by the Trump tax bill. So, for now, let's call that a wash.

But energy: that's a no-brainer. Anyone following the blog knows that Canada has a huge energy problem despite being energy-rich. (Venezuela is the best example of an energy-rich poor country.)

But there needs to be something else.

Let's look at an earlier WSJ headline/story that I posted earlier today:

ObamaCare: healthcare premiums rise well ahead of healthcare costs for employer-provided health insurance. Huge story over at WSJ. 

One would think that socialized medicine in Canada would be a better deal for corporations but one wonders if corporations in Canada don't pay a disproportionate cost of health insurance premiums for their employees. I don't know.

On the other hand, the shift in production may have absolutely nothing to do with energy, taxes, or healthcare premiums.

Most likely it is simply over-capacity. The article suggests that US facilities can easily make up the difference caused by shifting production from Canada to the US. But it is noteworthy, they didn't close a US factory (due to over-capacity) and shift that production to Canada.

All one can say for certainty about this is this: it's less expensive to make soup in the US and then send it to Canada.

Gee, I wonder if Trudeau might put a 50% tariff on US soup? LOL.

By the way, speaking of energy, if your business has a high-energy requirement, where in the US would you rather be?

That's a troubling trend in southern California, by the way.

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