01:45:35 EDT Tue 25 Mar 2025
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 282,875,928
Close 2025-01-17 C$ 58.38
Market Cap C$ 16,514,296,677
Recent Sedar Documents

Globe says Magna, rivals prepare for tariff fallout

2025-01-20 07:35 ET - In the News

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

The Globe and Mail reports in its Saturday, Jan. 18, edition that the Canadian automaking industry warns that U.S. president-elect Donald Trump's plan to impose 25-per-cent tariffs on imports from Canada could devastate the sector and raise car prices. The Globe's Eric Atkins writes that Canadian car and auto parts manufacturers are preparing for Mr. Trump's inauguration on Monday. Canadian leaders plan retaliatory tariffs against Mr. Trump's move, risking thousands of jobs and a potential economic recession. Brian Kingston, president of the Canadian Vehicle Manufacturers' Association, which represents the three Detroit-based automakers, calls the threat of U.S. tariffs "extremely problematic." For decades, Canada, the United States and Mexico have established free-trade agreements that fully integrate the auto industry across borders. This allows car components to cross the border multiple times tariff-free before reaching dealers throughout North America. The Trump tariffs would drive up car prices for U.S. consumers, reducing demand and North American auto production and the ability to compete with China, which is "flooding" global markets with electric vehicles, Mr. Kingston said.

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