13:41:22 EST Mon 19 Jan 2026
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Magna International Inc
Symbol MG
Shares Issued 280,242,006
Close 2026-01-16 C$ 76.32
Market Cap C$ 21,388,069,898
Recent Sedar+ Documents

Globe says Martinrea sees Chinese EVs now a reality

2026-01-19 07:29 ET - In the News

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

The Globe and Mail reports in its Saturday edition that one day before Prime Minister Mark Carney's visit to Beijing, President Donald Trump dismissed the Canadian auto industry, calling the North American free-trade pact "irrelevant" and suggesting the U.S. stop buying Canadian cars. The Globe's Mark Rendell writes that Mr. Carney responded on Friday. After meeting with Chinese President Xi Jinping, Canada will lower tariffs on 49,000 Chinese EVs annually and welcome joint-venture investments from Chinese companies in its auto sector. The move is both a geopolitical and economic gambit. Mr. Carney believes that Chinese investment and technology might help Canada's struggling auto industry. However, this stance puts Canada at odds with Washington ahead of the key USMCA review. Mr. Carney believes he can navigate the complexities between global powers and domestic constituencies better than expected. So far, the deal seems to have landed lightly in Washington. There were grumbles of disapproval from Mr. Trump's chief trade representative, Jamieson Greer, who called the agreement "problematic." But the President himself seemed nonplussed, even impressed, by Mr. Carney's step toward America's chief geopolitical rival.

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