04:19:08 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 410,974,525
Close 2015-08-06 C$ 71.37
Market Cap C$ 29,331,251,849
Recent Sedar Documents

FP says GM, others may see auto regime dropped from TPP

2015-08-07 07:42 ET - In the News

See In the News (C-GMM) General Motors Company

The Financial Post reports in its Friday, Aug. 7, edition that Prime Minister Stephen Harper and United States President Barack Obama are not pals like Brian Mulroney and Ronald Reagan were. The Post's Terrence Corcoran comments that all indications are that Mr. Obama will likely kill TransCanada's Keystone XL pipeline. Mr. Corcoran says Mr. Obama has another put-down for Canada. In a move that has shocked both Canada and Mexico, Mr. Obama's trade negotiators have apparently struck an auto side deal with Japan at the Trans-Pacific Partnership (TPP) trade talks. That side deal would also appear to be a deliberate slide around NAFTA to the detriment of Canadian and Mexican auto industry players, says Mr. Corcoran. According to unnamed sources, the U.S. under the side deal would allow Japanese-made automobiles and parts with high-percentage-content from China, Thailand and other countries to enter the U.S. free of duty. Mr. Corcoran says the side deal looks like a back stab at Canada and Mexico. Some reports see the U.S. auto-trade strategy as part of a grander U.S. play for concessions from Canada on dairy. Mr. Corcoran expects the whole auto-trade regime will be dropped from the TPP negotiations.

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