What will a Donald Trump presidency mean to the marijuana industry?
Will Trump’s limitless capacity to destabilize affect the marijuana industry?
As everything with President Trump is, answer is uncertain. But the market is still forging ahead. Today the stocks of Canadian licensed producers are leaping forward but there is new uncertainty in the USA.
On Tuesday night while Americans were electing Donald J. Trump as their next president California, Nevada and Massachusetts all said yes to recreational cannabis.
All three states plan to have possession of small quantities of marijuana legalized by January 1, 2017. That means by early next year, more than one in five Americans will live in a state where marijuana is legal for adult use.
Trump’s view on cannabis is a smorgasbord menu of ideas, sometimes contradicting each other.
Trump is favorable to medical cannabis. This one pronouncement offers no white-knuckle hand wringing uncertainty.
Get our daily investorintel update
In 1990, Trump proposed ending the War on Drugs by legalizing all drugs – click here.
“We’re losing badly the war on drugs. You have to legalize drugs to win that war. You have to take the profit away from these drug czars….What I’d like to do maybe by bringing it up is cause enough controversy that you get into a dialogue on the issue of drugs and you start to realize that this is the only answer; there is no other answer.”
But Trump seemed to have changed his mind in 2015 when he spoke of Colorado: “If they vote for it, they vote for it. But they’ve got a lot of problems going on right now in Colorado — some big, big problems. But medical marijuana, 100 percent.”
Cannabis should fall under the umbrella of general Trump uncertainty, which Ann Coulter describes as “You have to take Trump seriously but not literally”. Ann Hart Coulter is an American conservative social and political commentator, writer, syndicated columnist, and lawyer. She is the inspiration for Trump’s Mexico wall.
The problem is that no one seems to know when to take him seriously and when to take him literally.
Trump will be hard to predict on the legalization of Cannabis. But he is a pragmatic businessman and I sure he sees the double benefits of reducing the workload of law enforcement agencies and increasing government revenues.
But we should be more concerned about the members of his administration than Trump himself.
Rudy Giuliani, and Mike Pence oppose cannabis religiously. Should they accede positions of power in the Trump administration there is a risk that their conservative ideas about cannabis will be buoy to the top of the political agenda.
Rudy Giuliani is already broadcasting his bonafides for the job of Donald Trump’s U.S. attorney general.
And so the recreational cannabis industry may be victimized by a wave of conservative reforms.
Gov. Chris Christie is another concern. His position about recreational cannabis is crystal clear: “…I will crack down and not permit it.” But he has been ensnared with his association with the Bridgegate scandal and trial which may disqualify him before he can do damage to the recreational cannabis industry.
The Trump administration is creating more uncertainty than necessary to the cannabis industry. But it may not be intended. There is solace in that cannabis was not a platform issue to Mr. Trump. After all he has other more pressing promises to deliver, including how to finance the erection of a wall between Mexico and the USA.
Dr. Luc C. Duchesne is a Speaker and Author with a PhD in Biochemistry. With three decades of scientific and business experience, he has published ... <Read more about Dr. Luc Duchesne>