10:22:23 EDT Wed 11 Mar 2026
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Magna International Inc
Symbol MG
Shares Issued 278,869,165
Close 2026-03-10 C$ 78.49
Market Cap C$ 21,888,440,761
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Globe says Algoma hears Iran figures in USMCA talks

2026-03-11 08:23 ET - In the News

See In the News (C-ASTL) Algoma Steel Group Inc

The Globe and Mail reports in its Wednesday edition that the Iran war may heighten tensions in the upcoming United States-Mexico-Canada Agreement review. The Globe's Rita Trichur writes that "mission critical" for Canada is to deter and disrupt terrorist fundraising, sanctions evasion and the financing of weapons of mass destruction by Iran's Islamic Revolutionary Guard Corps, or IRGC. The IRGC's perpetration of these financial crimes, including on Canadian soil, is certain to arise as part of the USMCA renegotiations for two reasons. The first is President Donald Trump's focus on combatting narco-terrorism, which he has tied to his trade grievances against Canada and Mexico. Second, Tehran is a financial sponsor of Hezbollah and Hamas through a variety of criminal activities, including exploiting blind spots in international trade. Ottawa's national risk assessment for money laundering and terrorist financing confirms that Canada, much like the U.S., has observed how Iran bankrolls proxy terrorist groups across the Middle East. Trade-based money laundering, valued at up to $1-trillion (U.S.) annually, uses fake trade transactions to conceal illicit proceeds, including those from narcotics trafficking.

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