23:11:34 EDT Thu 25 Apr 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 Magna, others brace for NAFTA changes

2017-01-19 07:13 ET - In the News

Also In the News (C-GMM) General Motors Company
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Also In the News (C-MRE) Martinrea International Inc

The Globe and Mail reports in its Thursday, Jan. 19, edition that renegotiation of the North American free-trade agreement is at the top of the incoming Trump administration's agenda, and restructuring how the trade deal applies to the auto sector is expected to be a critical part of the talks. The Globe's Greg Keenan writes that the rules of origin under NAFTA are a key focus for the United States. Those rules, which are particularly prominent and in the automotive sections of the agreement, stipulate that 62.5 per cent of a vehicle contain North American content in order to qualify for duty-free access to each of the countries. That content could come from all three countries or any single country, although in practice all vehicles have a mix of parts originating in the U.S., Canada and Mexico. Setting a minimum threshold for U.S. content in vehicles -- suggestions are that the U.S. could demand 25 per cent or 33 per cent -- and raising the overall North American content requirement to 75 per cent, would likely lead to more auto-parts plants locating in the U.S., meeting president-elect Donald Trump's goal of increasing U.S. manufacturing jobs.

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