14:51:05 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 383,354,375
Close 2017-01-18 C$ 56.58
Market Cap C$ 21,690,190,538
Recent Sedar Documents

Globe says GM, others hear all parts of NAFTA on table

2017-01-19 06:53 ET - In the News

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

The Globe and Mail reports in its Thursday, Jan. 19, edition that U.S. commerce secretary nominee Wilbur Ross says every aspect of the North American free-trade agreement will be on the negotiating table. The Globe's Robert Fife writes that Mr. Ross told a Senate confirmation hearing that reopening NAFTA with Canada and Mexico to make it more favourable to U.S. manufacturers will be one the Trump administration's first acts. He said: "NAFTA logically is the first thing for us to deal with. We ought to solidify relationships in the best way we can in our territory before we go off to other jurisdictions." Mr. Ross, who has been put in charge of all U.S. trade policy, said the NAFTA talks will be wide-open and that a final deal should include a sunset clause to allow the agreement to be reviewed and renegotiated within a set number of years. "There should be systematic reopenings of trade agreements after a few years period because it is hard to anticipate the ingenuity some of these folks have to get around the intent of the agreement." Mr. Ross did not say what concessions the United States expects from Canada, but he was blunt in his criticism of Mexico's cheap labour and poor environmental standards.

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