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Magna International Inc
Symbol MG
Shares Issued 380,552,261
Close 2017-05-09 C$ 58.90
Market Cap C$ 22,414,528,173
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Globe says Canfor, others hear Trump may tear up NAFTA

2017-05-10 07:39 ET - In the News

See In the News (C-CFP) Canfor Corp

The Globe and Mail reports in its Wednesday, May 10, edition that the Trump administration may tear up the North American free-trade agreement and negotiate separate deals with Canada and Mexico, warns Commerce Secretary Wilbur Ross. The Globe's Adrian Morrow writes that Mr. Ross also served notice Tuesday that Washington will be "more aggressive" in fighting back against what it believes are unfair trade practices, such as slapping tariffs on imports. He lashed out at British Columbia Premier Christy Clark over her move to ban U.S. coal shipments from her province's ports. Despite President Donald Trump's decision last month not to start the process of pulling the United States out of NAFTA, Mr. Ross indicated a withdrawal from the deal is still on the table. Both Canada and Mexico want to preserve NAFTA, but Mr. Ross said that might not happen. He said, "We have not yet decided whether to go the trilateral route or whether to pursue two bilateral deals." If he does preserve NAFTA, Mr. Ross said, Mr. Trump wants to rename it "NAFFTA," with the other "F" standing for "fair." Mr. Ross said the U.S. will be "more aggressive in pursuing trade remedies."

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