00:31:11 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 408,637,092
Close 2015-09-25 C$ 62.77
Market Cap C$ 25,650,150,265
Recent Sedar Documents

Globe says Magna, rivals hear Obama not calling PM

2015-09-25 06:20 ET - In the News

Also In the News (C-LNR) Linamar Corp
Also In the News (C-MRE) Martinrea International Inc

The Globe and Mail reports in its Friday edition that United States President Barack Obama is reaching out to his Mexican counterpart, Enrique Pena Nieto, to close the Pacific Rim trade deal next week. The Globe's Steven Chase and Greg Keenan write that as of Thursday afternoon, Mr. Obama had not called to Prime Minister Stephen Harper. There is rising concern in Canada's 80,000-job auto-parts manufacturing sector (Martinrea International, Magna International and Linamar) that the Trans-Pacific Partnership could seriously harm the industry. The White House announced Thursday that Mr. Obama called Mr. Nieto on Wednesday regarding Trans-Pacific Partnership talks to discuss "the importance of bringing the negotiations to a swift conclusion." Mr. Harper's staff said the PM had not received a phone call from the White House. Both Canada and Mexico, NAFTA partners with the U.S., are standing in the way of of a TPP deal because of a dispute with Japan over how much of each auto or car part can be made overseas and still qualify to be sold in North America without duties under the Trans-Pacific Partnership. The Tory government says it will not sell out Canadian industry.

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