09:16:26 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 382,552,522
Close 2017-02-08 C$ 56.14
Market Cap C$ 21,476,498,585
Recent Sedar Documents

Globe says Magna, others see Freeland hang tough

2017-02-09 08:01 ET - In the News

Also In the News (C-CFP) Canfor Corp
Also In the News (C-GMM) General Motors Company
Also In the News (C-IMO) Imperial Oil Ltd
Also In the News (C-LNR) Linamar Corp
Also In the News (C-MRE) Martinrea International Inc

The Globe and Mail reports in its Thursday edition that Foreign Affairs Minister Chrystia Freeland has warned the Trump administration that Ottawa is ready to retaliate if the new President imposes tariffs at the border, potentially sparking a trade war between Canada and its largest trading partner. The Globe's Adrian Morrow and Robert Fife write that Ms. Freeland, who met with Donald Trump's Secretary of State, Rex Tillerson (former head of Imperial Oil parent Exxon Mobil), in Washington Wednesday, said she delivered a message that Ottawa has no appetite for tariff walls and is not afraid to fight back. "I did make clear that we would be strongly opposed to any imposition of new tariffs between Canada and the U.S. ... if such an idea were ever to come into being, Canada would respond appropriately," said Ms. Freeland after meeting Mr. Tillerson. Despite Ms. Freeland's tough talk, an unnamed official said "no one wants to start a trade war." Another source said Ms. Freeland had several other concerns to bring to U.S. officials, including a border adjustment tax proposed, Mr. Trump's executive order favouring U.S.-made steel and his push for biometric screening at the border.

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