05:30:53 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 358,395,997
Close 2018-04-13 C$ 75.72
Market Cap C$ 27,137,744,893
Recent Sedar Documents

FP/CP say Magna, rivals see U.S. ease up on key demand

2018-04-13 07:44 ET - In the News

Also In the News (C-LNR) Linamar Corp
Also In the News (C-MRE) Martinrea International Inc

The Financial Post reports in its Friday edition that the United States has softened another one of its key North American free-trade agreement demands, shaving 10 per cent off a request on automobiles amid a flurry of talks aimed at getting a preliminary agreement this spring. A Canadian Press dispatch to the Post reports that the U.S. has watered down its demand that cars include 85 per cent North American content to avoid a tariff -- and lowered the number to 75 per cent. That is after it already dropped a demand that every car include 50 per cent U.S. content. The new U.S. position is that automakers receive credits toward the 75-per-cent threshold for certain behaviours, like paying higher salaries, which is designed to benefit production outside Mexico. However, other issues are far from settled. Amid a U.S. push for some sort of agreement this spring, negotiators are meeting in Washington this week. The most recent version of the schedule obtained by CP shows agriculture is up for discussion this week, but not dispute resolution. Plans for some sort of announcement this week at the Summit of the Americas have been dropped. President Donald Trump insisted Thursday he is in no hurry.

© 2024 Canjex Publishing Ltd. All rights reserved.