02:14:51 EDT Fri 09 May 2025
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 281,688,546
Close 2025-03-13 C$ 51.22
Market Cap C$ 14,428,087,326
Recent Sedar Documents

Globe says Magna, rivals hear tariffs called "insane"

2025-03-13 08:29 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 Thursday edition tariffs on steel and aluminum will drive up costs for consumers and manufacturers in the North American auto industry as it grapples with a new front in U.S. President Donald Trump's trade war. The Globe's Eric Atkins and Jameson Berkow write that Mr. Trump on Wednesday levied 25-per-cent tariffs on imported steel and aluminum, including auto parts, raising a new hurdle for an industry that for decades has built integrated supply chains based on free trade. Canada and the European Union swiftly countered. Mr. Trump earlier this month slapped 25-per-cent tariffs on a range of Canadian goods, and delayed a new round until April 2. That is when 25-per-cent tariffs on autos are scheduled to be applied, a move the North American industry has repeatedly warned will lead to its quick shutdown. "It's insane," Flavio Volpe, head of the Automotive Parts Manufacturers' Association, which represents Magna International, Linamar, Martinrea International and other Canadian parts suppliers, said of the chaotic trade policies emanating from Washington.

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