01:10:30 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 373,119,677
Close 2017-07-17 C$ 60.48
Market Cap C$ 22,566,278,065
Recent Sedar Documents

Globe says Interfor, others hear Trump could nix NAFTA

2017-07-18 07:13 ET - In the News

See In the News (C-IFP) Interfor Corp

The Globe and Mail reports in its Tuesday edition that President Donald Trump could declare the North American free-trade agreement talks are going nowhere and decide to end the agreement. The Globe's John Ibbitson writes that while Mr. Trump may terminate American participation in NAFTA, with six months notice, dismantling the actual laws and regulations would be problematic without Congressional support. Canada West Foundation Trade and Investment Centre director Carlo Dade says: "This is new constitutional territory. The U.S. has never withdrawn from an agreement before." Congress would be under enormous pressure to preserve NAFTA from governors fearful of the economic consequences for their states. As a result, Prime Minister Justin Trudeau's cabinet ministers have spent much time on the Hill and in state capitals working to convince stakeholders that NAFTA has been as good for the U.S. as it has been for Canada. Think of it as an insurance policy, in case Mr. Trump goes off the rails. A lot, however, could go wrong, including Congressional gridlock. Better that the negotiators conclude a new agreement that modernizes and improves NAFTA, while leaving the free-trade essentials intact.

© 2024 Canjex Publishing Ltd. All rights reserved.