21:03:33 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 361,367,702
Close 2017-11-13 C$ 67.53
Market Cap C$ 24,403,160,916
Recent Sedar Documents

Globe says Magna, others hear no deal beats a bad one

2017-11-14 06:41 ET - In the News

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The Globe and Mail reports in its Tuesday edition that unnamed sources say Canada will give no ground on U.S. protectionist demands when the renegotiation of the North American free-trade agreement resumes this week. The Globe's Adrian Morrow, Greg Keenan and Steven Chase write that sources say the Trudeau government knows that taking a hard line on Washington's "poison pill" proposals risks blowing up the talks. Ottawa, however, believes failing to reach a deal on NAFTA beats agreeing with a bad one. Mexico is in a similar place. One source described Enrique Pena Nieto's administration as being in the fifth stage of grief: acceptance that there may be no avoiding the end of the deal. Multiple sources say outside the talks, Canadian officials will continue their outreach campaign to NAFTA-friendly U.S. businesses and politicians, in hopes of both cranking up domestic pressure on the White House to back off its toughest demands and mobilize Congress to oppose President Donald Trump if he tries to pull the United States out of the pact. No matter how badly talks go, the sources say, Canada is determined to stay at the table and force the Trump administration to decide whether it will pull the plug.

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