21:17:40 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 382,461,855
Close 2017-03-30 C$ 58.21
Market Cap C$ 22,263,104,580
Recent Sedar Documents

Globe says Magna, others hear U.S. set to reopen NAFTA

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

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The Globe and Mail reports in its Friday edition that President Donald Trump's administration wants across-the-board changes to the North American free-trade agreement that would tilt the rules of cross-border commerce more clearly in favour of U.S. business. The Globe's Steven Chase and Adrian Morrow write that a draft eight-page letter to Congress from acting United States Trade Representative Stephen Vaughn outlines more than 40 negotiating objectives the White House is seeking as the U.S. prepares to reopen NAFTA in talks with Canada and Mexico. The revisions sought go far beyond the modest "tweak" for Canada that Mr. Trump promised. Instead, they would imprint Mr. Trump's "America-first" approach to trade on the 23-year NAFTA accord. The document appears designed to impress Congress with how exhaustive the White House's NAFTA rewrite ambitions remain. Mr. Trump has not yet taken any demands off the table. Some of the objectives carry little explanation, using coded language recognizable to Republicans. One that jumps out is a vow to "level the playing field on tax treatment," a phrase associated with Republican calls for a border adjustment tax that would be imposed on foreign imports.

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