05:34:48 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 383,354,375
Close 2017-01-11 C$ 60.08
Market Cap C$ 23,031,930,850
Recent Sedar Documents

Globe says Linamar, others critical of a NAFTA repeal

2017-01-12 08:53 ET - In the News

See In the News (C-LNR) Linamar Corp

The Globe and Mail reports in its Thursday, Jan. 12, edition that the Centre for Automotive Research (CAR) says pulling the United States out of the North American free-trade agreement will lead to cuts in automotive jobs for Americans. The Globe's Greg Keenan writes that in a study CAR says the end of NAFTA would eliminate at least 31,000 jobs in the U.S. auto-parts industry, "counter to the incoming Trump administration's goal of creating manufacturing jobs." The study was released hours after president-elect Donald Trump warned again at a news conference Wednesday that he is targeting imports from Mexico. He also praised Fiat Chrysler Automobiles for investing $1-billion (U.S.) in two U.S. plants and urged General Motors to heed his tweeted warning last week that it will face "big taxes" if it continues to import a small number of Chevrolet Cruze models from Mexico. The study notes the United States benefits from Canada's participation in NAFTA. Linamar president Linda Hasenfratz says taxing products that cross the borders seven times in one form or another would lead to price increases that consumers will not pay. She says, "It would add enormous cost that no one can bear."

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