Trump-era volatility prompts cross-border talent to reassess ties and future business strategy
The current US political climate is reshaping how many view long-term strategy and talent retention.
According to a feature article by The Financial Post, high-performing Canadian expatriates—once seen as deeply embedded in the US economy—are now rethinking their commitment to living and working south of the border as Donald Trump returns to the presidency.
Toronto native Billy Berg—using a pseudonym due to concerns around speaking candidly—has built a career as a senior executive in a US consumer technology company with nearly US$1bn in revenue and over 800 employees.
Despite the professional growth, Berg said the divisive tone and policy volatility under Trump have created a fundamental discomfort.
Trade war threats, anti-Canadian rhetoric, and cuts to research funding all contributed.
“What Trump has brought with him is this wave of mean-spirited, divisive rhetoric… you have to say to yourself, ‘Do I want to continue to live here?’”
His concerns echo throughout boardrooms and executive circles.
The uncertainty—described by Berg as non-cataclysmic but palpable—is already influencing recruitment and retention, especially of skilled international engineers whose work permits are time-sensitive.
According to immigration lawyer Benjamin Green, US-educated tech graduates often “run out of time” under current immigration rules, making Canada an increasingly attractive alternative for employers seeking stability and continuity in innovation staffing.
This sentiment is reinforced by Brian Scudamore, founder and CEO of Vancouver-based O2E Brands Inc. His franchises—including 1-800-GOT-JUNK—operate predominantly in the US.
Scudamore, who holds dual citizenship, advised his franchise owners to avoid politics and focus on fundamentals like hiring and local marketing.
While recession concerns linger, Scudamore said, “People will always need to get rid of their junk even if the market retreats.”
Still, after attending a CEO gathering at MIT, he noted that no one among the business leaders he spoke with had a clear view of how the Trump administration would impact the economy going forward.
More than 800,000 Canadians live in the US. Some relocated for higher pay, tax benefits or climate preferences, but growing political unease is prompting conversations about returning.
This could unlock fresh capital inflows and skilled labour for the Canadian economy, especially in sectors like health care and technology.
Mahmood Nanji, policy fellow at Ivey Business School’s Lawrence National Centre for Policy and Management, said Canada should seize the moment.
“Canada needs to take a stab at this unique opportunity, because if we just sit idle and do nothing, it will be an opportunity lost.”
As per a 2025 Health Canada study, the country is currently short about 23,000 family physicians.
Nanji suggested that with targeted tax policy changes and relocation incentives, Canada could pull top-tier talent from the US across health care, R&D, and professional services.
While some Canadian professionals remain firmly rooted in the US, like San Francisco-based investor John Hockin, the long-term implications of political instability may influence the nature of cross-border partnerships.
Hockin, cofounder and chief investment officer at Sea Cliff Partners LP, said the size and access of the US equity markets remain compelling: “The US is just a bigger market.”
He invests in firms with valuations between US$1bn and US$10bn and has previously worked at Morgan Stanley and KKR & Co. Inc. Despite his pride in his Canadian heritage, he has no current plans to return.
Nonetheless, Hockin acknowledged his awareness of Canada’s political and economic landscape, citing his uncle Tom Hockin’s tenure as a cabinet minister under Brian Mulroney and later as Canada’s IMF representative during the 2008–09 financial crisis.
“I do have a lot of relationships in the US… could I ever find a role that helps Canada in relation to the US?” he asked.
The push-pull dynamic between opportunity and identity is not new, but the Trump-era volatility adds a new layer to decision-making.
Berg, for instance, noted that even social interactions in New York have become politically charged: “If anybody is pro-Trump in a social setting and you mix in alcohol, it’ll get ugly quickly.”
With one daughter still in high school, he isn’t ready to relocate, but said the idea of returning to Toronto or Europe keeps resurfacing.
Canada’s competitive position could benefit from this moment, according to Green.
He noted that even non-Canadian families—particularly those with past experiences of persecution—are exploring Canada as a safeguard amid US policy changes, including proposed restrictions to birthright citizenship.
Among the most valuable segments are young, international STEM graduates on time-limited visas.
The broader market implications of these trends are significant.
As political uncertainty escalates, the ability to retain or repatriate Canadian high achievers in sectors like fintech, AI, and venture capital could influence both domestic innovation capacity and institutional investment strategies.
For Canadian pension funds and asset managers seeking global exposure, understanding how these workforce dynamics play into corporate risk and talent migration will be crucial.
Despite the challenges, Berg admitted that he owes much of his success to the US market.
“There is a reason I chose to stay and build a life here,” he said. “But it is funny, even though I am a dual citizen now, I don’t feel American.”
