I don't think it is time to even begin to think about how the US presidential election will affect our industry, despite having two presumptive nominees.  Face it, the markets live day-to-day, even when they receive what they think is long term news.  There is a possibility the bring jobs home, anti-trade agreement attitude will take hold no matter who wins, but I don't think it will affect the pulp and paper industry much.  We've been global for most of the last half century at least and learned to deal with trade barriers and falling trade barriers, depending on the whims of the politicians on any particular day.

Brexit, or the exit of Britain from the EU, could be a different matter.  Shoving over that domino may make the entire game board collapse.  A recent poll indicted that 45% of the population of all the EU countries want to leave.  Brussels has simply been too big an expense for value received.  This could throw the pulp and paper industry in Europe into disarray and create opportunities for the Americans (likely), the Chinese (perhaps) and the Brazilians (if only they did not have so many problems of their own).  The way this could happen is the marginal players who are able to hold properties cross frontier only because of relatively open EU trade conditions may stumble as they move to what they see as trade barriers. Americans with money and Chinese who are used to dealing with trade barriers may be able to swoop in and take advantage of the situation.