13:48:57 EST Mon 19 Jan 2026
Enter Symbol
or Name
USA
CA



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 Magna, rivals hear EV deal will hurt workers

2026-01-19 07:58 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 Saturday edition that Prime Minister Mark Carney's deal to reduce tariffs on Chinese-made electric vehicles could put the competitiveness of the Canadian auto sector at risk. The Globe's Irene Galea writes that on Thursday, Prime Minister Mark Carney reached a deal with China to allow 49,000 EVs made in the country into Canada at a low tariff rate in return for big reductions in Beijing's levies on canola seed and a promised elimination of its tariffs on a host of other Canadian-made products. As of March 1, Canada will lower levies on Chinese EVs from 100 per cent to 6.1 per cent. The quota would reach 70,000 EVs in half a decade, with a portion of that quota reserved for cars with an import price of $35,000 or less. Flavio Volpe, president of the Automotive Parts Manufacturers' Association, said the deal risks undermining Canadian jobs. While the 49,000 cap represents just 3 per cent of total annual auto sales in Canada, it also represents a full shift in an assembly plant for 1,000 employees and several thousand more in the supply chain, he said. "Every sale made guaranteed to an export source is a sale that doesn't include Canadian content," Mr. Volpe said.

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