A recent article published on CTV News brought to the forefront unintended risks in being associated in any way with the cannabis industry. From and arm’s length relationship of leasing a property to a cannabis company to owning a cannabis stock, you could get a life time ban on entering the United States. This seems somewhat of an alarmist type situation given the absurdity of it. But it isn’t. It is all too real.
The Canadian Government has to step in and deal with this. Given the Trump administrations surrender or die type of policies, don’t expect anything to soon from our Fed’s. In the meantime, what to do?
If you have anything to do with cannabis, almost to the point of knowing someone who might have inhaled some second-hand smoke, don’t cross the border into the US. Be very cautious on international flights that may get rerouted to the US for any number of reasons.
You might not even know you own a cannabis stock. Many Canadian ETFs and mutual funds could own a cannabis stock. Very easy to be totally unaware a cannabis stock is buried somewhere in your portfolio that you are not even making any decision on owning. It could even be in your pension plan through your employer’s retirement plan.
Do you have relatives working in the cannabis sector? Maybe better to remain ignorant and not speak to anyone about any work-related questions.
If you know you own a cannabis stock, and are thinking or planning on travelling to or even flying over the US, you may want to rethink either your portfolio or your travel plans.
This goes beyond logic and civility, particularly of an ally nation. Clearly there is some intention behind any first world government imposing such dramatic consequences. I hope that the retaliation our PM puts together is different from the escalation of trade wars we have seen. We can’t move forward if the norm is head butting, we need leaders who understand the consequences of bad behavior. The US is not our enemy, both Canada and US and many other nations are going through a crisis of leadership.