17:20:14 EST Tue 20 Jan 2026
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 280,242,006
Close 2026-01-19 C$ 76.06
Market Cap C$ 21,315,206,976
Recent Sedar+ Documents

Globe says Magna, rivals see Carney's support wavering

2026-01-20 07:29 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 Tuesday edition that Mark Carney's trade deal with China is not a strong vote of confidence for the future of Canada's auto industry. The Globe's Campbell Clark writes that Mr. Carney's concession to accept 49,000 Chinese vehicles annually with low tariffs signals that the Prime Minister is not optimistic about the long-standing cross-border auto trade. Mr. Carney is seeking new investors for Canada's car industry, targeting foreign automakers from South Korea and China. Ottawa plans to offer them preferential access to the Canadian market if they manufacture here. Ontario Flavio Volpe at the Automotive Parts Manufacturers' Association, said Mr. Carney's deal was not favourable for the auto industry, though he understood the need to balance various interests. Mr. Volpe also noted Mr. Carney's $5-billion commitment last year to a "strategic response fund" to support the industry. Still, he said the signal no longer seems to be the all-out commitment to save the auto sector that was central to Liberal policy under Justin Trudeau. BYD, Geely and Chery will presumably open dealerships in Canada, possibly supplementing their inventory with cars they make in other countries such as Brazil.

© 2026 Canjex Publishing Ltd. All rights reserved.