07:49:06 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Resolute Forest Products Inc
Symbol RFP
Shares Issued 90,839,048
Close 2019-01-25 C$ 12.08
Market Cap C$ 1,097,335,700
Recent Sedar Documents

Globe says Magna, others hear USMCA facing resistance

2019-01-28 07:14 ET - In the News

See In the News (C-MG) Magna International Inc

The Globe and Mail reports in its Saturday, Jan. 26, edition that President Donald Trump's overhauled trade deal with Canada and Mexico is facing growing resistance in the United States Congress. The Globe's Adrian Morrow writes that unnamed sources say the largest business lobby in the U.S. is planning a court challenge if Mr. Trump tries to terminate the North American free-trade agreement to pressure legislators to ratify the pact's replacement, the proposed U.S.-Mexico-Canada Agreement. A source says the U.S. Chamber of Commerce is one of several business, agricultural and advocacy groups looking to sue the Trump administration if he triggers NAFTA's withdrawal process. Such legal action would assert that the U.S. President does not have constitutional authority to pull the country out of a trade deal without Congress's approval. The groups are hoping to avert the serious economic consequences that would likely ensue from breaking up one of the world's most lucrative free-trade zones. Court action would likely go all the way to the Supreme Court, which could take years -- buying time for companies to prepare for the worst, or for a more trade-friendly president to replace Mr. Trump.

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