11:55:42 EDT Sun 13 Jul 2025
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 281,688,546
Close 2025-04-09 C$ 47.48
Market Cap C$ 13,374,572,164
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Globe says Martinrea, rivals still facing tariffs

2025-04-10 07:47 ET - In the News

See In the News (C-MRE) Martinrea International Inc

The Globe and Mail reports in its Thursday edition that the Trump administration has informed Canada that it will not face a universal 10-per-cent tariff that the United States plans to impose on most countries, replacing the larger tariffs that are currently suspended. The Globe's Steven Chase quotes Kirsten Hillman, Canada's ambassador to the United States, saying that she obtained the assurance from the U.S. trade representative on Wednesday, hours after Treasury Secretary Scott Bessent said Canadian and Mexican imports would be subject to the tariff. The ambassador said United States Trade Representative Jamieson Greer told her, "We remain exempt from this levy." Nevertheless, Canadian imports are still subject to a series of tariffs imposed by President Donald Trump since March, which are expected to drive up costs for U.S. consumers and hurt businesses in Canada. The current U.S. levies on Canada, which remain in effect, include 25-per-cent tariffs on steel and aluminum, as well as a 25-per-cent tariff on Canadian-made vehicles, which applies only to the non-U.S. content in those cars and light trucks. There is also a 25-per-cent tariff on most goods, which drops to 10 per cent on critical minerals, energy and potash.

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