Trumpism doesn’t play in Canada, which just eased takeover rules

OTTAWA – Prime Minister Justin Trudeau, bucking a global trend toward greater protectionism, will loosen foreign takeover rules for more than 50 Canadian publicly traded companies next year, including those in mining, oil and marijuana production.
Finance Minister Bill Morneau announced this week Canada would raise the threshold for automatic government review of acquisitions to C$1-billion ($747-million) in enterprise value in 2017, rather than 2019 as previously scheduled. The hike from the current C$600-million will be enacted through legislation, although the timing has not been set. Companies that fall under the new threshold range from miner Dominion Diamond to marijuana producer Canopy Growth.Advertisement

The changes are the latest border-opening steps by Trudeau, who has emerged as a champion of expanding trade and globalisation at a time when protectionism has fuelled the rise of Donald Trump, support for Brexit and opposition to trade pacts – such as Canada’s with the European Union, …