09:15:44 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 383,354,375
Close 2017-01-13 C$ 58.82
Market Cap C$ 22,548,904,338
Recent Sedar Documents

Globe says GM, others see U.S. tax plan includes Canada

2017-01-16 08:15 ET - In the News

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

The Globe and Mail reports in its Saturday, Jan. 14, edition that the incoming Trump administration has said a tax on vehicles imported into the United States could be applied to Canada. The Globe's Greg Keenan and Steven Chase write that president-elect Donald Trump's spokesman Sean Spicer said on Friday a border tax will apply "when a company that's in the U.S. moves to a place, whether it's Canada or Mexico or any other country seeking to put U.S. workers at a disadvantage." Until Friday, the name Canada had not arisen specifically in comments by the administration on auto exports or in the tweets Mr. Trump has sent out threatening to impose a "big border tax" on General Motors and Toyota Motor for importing vehicles to the U.S. from Mexico. Those Twitter comments and Mr. Trump's promise to tear up NAFTA have created upheaval among auto companies and parts suppliers. Mr. Trump's target so far has been Mexico. He did not single out Canada or any automakers operating in this country in his tweets. Foreign Affairs Minister Chrystia Freeland's office said it is in talks with Mr. Trump's staff on the matter and noted there is significant opposition to a border tax within the United States.

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