01:26:21 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 410,974,525
Close 2015-08-24 C$ 62.26
Market Cap C$ 25,587,273,927
Recent Sedar Documents

Globe says Linamar, rivals warn on TPP deal

2015-08-24 07:53 ET - In the News

See In the News (C-LNR) Linamar Corp

The Globe and Mail reports in its Monday, Aug. 24, edition that Canadian and Mexican auto parts makers are warning of dire consequences for manufacturing jobs if the Trans-Pacific Partnership trade pact is concluded without better terms for their sector. The Globe's Steven Chase writes that they are worried about a concession sought by Tokyo in talks to create a Pacific Rim trade pact that would let Japanese automakers ship cars and auto parts into North America duty free but with substantial content from non-TPP countries. In an Aug. 20 letter to Canadian Trade Minister Ed Fast and his Mexican counterpart, Ildefonso Guajardo Villarreal, the auto parts makers say they fear their sector would suffer serious damage if Ottawa and Mexico fail to obtain a better deal. Automotive Parts Manufacturers' Association president Flavio Volpe and his Mexican counterpart Oscar Aldin say: "If this provision were to come into force, our companies and workers would be placed in a competitively disadvantaged [position] in the North American market. [It] would seriously compromise our operations in the North American region, and we may be forced to significantly reduce our operations."

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