12:12:32 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 382,461,855
Close 2017-03-09 C$ 57.10
Market Cap C$ 21,838,571,921
Recent Sedar Documents

Globe says Magna, others see PM slam border tax idea

2017-03-10 07:31 ET - In the News

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

The Globe and Mail reports in its Friday, March 10, edition that Prime Minister Justin Trudeau slammed the Republican proposal for a new border tax Thursday. The Globe's Shawn McCarthy writes that Mr. Trudeau was a keynote speaker at IHS Markit's CERAWeek conference in Houston. He used the platform to reinforce Canada's image as a critical trading partner whose access to American markets benefits people in both countries. The PM said, "Anything that creates impediments at the border -- extra tariffs, new taxes -- is something that we're concerned about." Mr. Trudeau pointed to the auto industry, which moves parts across the border several times in the process of assembling vehicles. He said, "If you are planning on having bean counters count each of those transits and lay taxes on top of each one, you're going to be hurting not just the Canadian economy but the American economy as well." Canadian Association of Petroleum Producer president Tom McMillan said it was important for the PM to remind the business audience of the importance of the bilateral relationship. He said, "It's good to always be connecting with our largest customer ensuring we're all on the same page."

© 2024 Canjex Publishing Ltd. All rights reserved.