00:04:31 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 383,354,375
Close 2017-01-17 C$ 57.13
Market Cap C$ 21,901,035,444
Recent Sedar Documents

Globe says GM, others hear new U.S. NAFTA demands loom

2017-01-18 08:38 ET - In the News

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

The Globe and Mail reports in its Wednesday edition that Wilbur Ross, chosen by Donald Trump to reshape U.S. trade policy, has informed Canada that rules of origin and independent dispute tribunals will be central to talks aimed at resetting the North American free-trade agreement. The Globe's Robert Fife writes that Mr. Ross says a formal notification letter to open talks on NAFTA will be sent to Canada and Mexico after Jan. 20. The Americans want to discuss country of origin rules and the independent dispute-settlement mechanism that are key features of the 1994 NAFTA pact. Country of origin rules, which govern how much content from outside NAFTA a product can contain and still qualify to be shipped free of duty, are specific to each product and spelled out in writing. They cover every kind of good and service, from suits to cars. The Trump administration is expected to take a harder line on what can cross the border duty-free. NAFTA's tripartite dispute panels are also on Mr. Ross's radar. The U.S. has long complained these independent panels are unaccountable and give too much power to Mexico and Canada. Still, the signals from Mr. Trump indicate the trade focus will largely be aimed at Mexico.

© 2024 Canjex Publishing Ltd. All rights reserved.