08:09:43 EDT Fri 04 Jul 2025
Enter Symbol
or Name
USA
CA



Linamar Corp
Symbol LNR
Shares Issued 59,809,587
Close 2025-05-29 C$ 63.06
Market Cap C$ 3,771,592,556
Recent Sedar Documents

Globe says Magna, rivals see court nix Trump's taxes

2025-05-29 07:47 ET - In the News

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

The Globe and Mail reports in its Thursday edition that the U.S. Court of International Trade ruled that the President does not have "unbounded authority" to impose tariffs, limiting a tactic used by Donald Trump in international relations. The Globe's Nathan VanderKlippe and Adrian Morrow write that this ruling applies to tariffs imposed under the International Emergency Economic Powers Act (IEEPA) and is likely to be appealed. Some tariffs on Canadian imports, such as those on steel, aluminum and cars, were implemented under different authorities not affected by this ruling. The ruling mandates that the U.S. remove tariffs imposed by Mr. Trump on Canada and Mexico over fentanyl, as well as global tariffs from April 2, referred to as "Liberation Day." For Canada, the decision may remove tariffs on goods not compliant with the U.S.-Mexico-Canada Agreement. However, lawyer John Boscariol from McCarthy Tetrault states that tariffs on automobiles, steel and aluminum remain, significantly impacting certain economic sectors. The court found that IEEPA was specifically written to constrain presidential powers. In court, lawyers for the Trump administration had argued that only Congress could overturn Mr. Trump's tariffs.

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