00:11:57 EDT Sun 23 Mar 2025
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 282,875,928
Close 2025-02-14 C$ 53.61
Market Cap C$ 15,164,978,500
Recent Sedar Documents

Globe says Magna, rivals hear Trump mull levy on cars

2025-02-14 07:47 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 Friday edition that U.S. President Donald Trump has instructed his administration to create a list of reciprocal tariffs for every country, including Canada, that is believed to be imposing unfair duties, trade barriers or taxes on American imports. The Globe's triple bylined item reports that this threatened punitive measure from the White House could be implemented within weeks. Separately, Mr. Trump said tariffs on foreign-assembled automobiles are "coming soon." This week, he told Fox News he was considering a levy on Canadian-made cars of as much as 50 per cent to 100 per cent. "If we don't make a deal with Canada, we're going to put a big tariff on cars. Could be a 50 or 100 per cent because we don't want their cars," he said. Mr. Trump singled out Canada three times in comments to reporters in the Oval Office on Thursday. "Now Canada is going to have to start paying up," Mr. Trump said as he announced an executive order to examine trading relationships with other countries, identify what they consider unfair levies or barriers on Americans and propose remedies. "Canada is going to be a very interesting situation because, you know, we just don't need their product."

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