12:18:01 EDT Sun 13 Jul 2025
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 281,688,546
Close 2025-03-27 C$ 50.05
Market Cap C$ 14,098,511,727
Recent Sedar Documents

Globe says Magna, rivals hear sector facing disruptions

2025-03-28 04:05 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, March 28, edition that Canada's auto sector may face disruptions, plant shutdowns and layoffs due to U.S. President Donald Trump's tariffs. The Globe's Eric Atkins writes that Mr. Trump recently announced tariffs up to 25 per cent on imported cars starting April 3, with auto parts also facing taxes from May 3 onward. Under the United States-Mexico-Canada Agreement, passenger vehicles and car parts imported into the U.S. will incur a 25-per-cent tax on their non-U.S. content. However, as Canadian-made vehicles use around 50 per cent U.S. parts, many will face lower tariffs. This could lead to higher car prices, reduced sales and less production in North American auto plants, according to Patrick Anderson of Anderson Economic Group. He noted that while Michigan and Texas will be affected, Ontario will experience the most job losses due to these tariffs. Abby Samp, a director at Oxford Economics, stated that car price increases will be global. She noted that while U.S. assembly plants have some capacity for reshored production, it could lead to reduced competition, higher prices, and lower production in Canada and Mexico, the U.S.'s main trading partners.

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