22:11:58 EDT Thu 27 Mar 2025
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 282,875,928
Close 2025-01-31 C$ 57.62
Market Cap C$ 16,299,310,971
Recent Sedar Documents

Globe says Magna, rivals hear Trump's tariffs will hurt

2025-02-03 08:42 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 Monday edition that the White House on Saturday imposed 25-per-cent tariffs on goods from Canada and Mexico, as well as a 10-per-cent levy on Canadian energy, beginning Tuesday. The Globe's Erica Alini writes that a major soft spot for many Canadians is in the automotive sector. The auto supply chain provides the quintessential example of how the trade war will likely quickly compound costs for businesses and customers. To illustrate the point, Automotive Parts Manufacturers' Association president Flavio Volpe uses the example of the crankshaft, the combustion engine's backbone, which translates the linear motion of the pistons into the rotating motion of the wheels. The manufacturing of a crankshaft typically begins in Mexico, according to Mr. Volpe. The part is then machined in Canada, followed by finishing in the U.S. After being incorporated into an engine, it returns to Canada for painting. Finally, it makes its way back to the U.S. for sale to consumers. "Profitability is only possible because we are 60 years into free trade in automotive," Mr. Volpe said. Canadian companies will have to pay tariffs directly to the U.S. government, something that many are not set up for.

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