00:27:38 EDT Fri 01 May 2026
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 278,869,165
Close 2026-03-16 C$ 76.78
Market Cap C$ 21,411,574,489
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Globe says Magna told Poilievre has a tariff-free plan

2026-03-16 08:06 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 Monday edition that federal Conservative Leader Pierre Poilievre is proposing a new plan for Canada's automotive industry that focuses on a tariff-free auto pact with the United States. The Globe's Nicolas Van Praet writes that Mr. Poilievre argues that Canada must maintain strong ties with its largest export market to revitalize the sector. The plan includes removing the federal sales tax on Canadian-made vehicles to encourage consumer purchases and urges provinces and territories to follow suit. Additionally, it aims to align with the U.S. and Mexico on Chinese tariffs for greater leverage in future trade talks. The Conservatives propose a "dollar-for-dollar" rule to boost domestic production, similar to the 1965 Canada-U.S. auto pact. For every vehicle made in Canada, manufacturers could import an equivalent value in duty-free cars or trucks from the U.S. or Mexico. Mr. Poilievre said: "Canada's auto sector must stay alive and it must have access to the U.S. to do so. I have a plan here that will massively increase production on both sides of the border that will be attractive to both partners." His comments come as U.S. tariffs on imports trigger new production cuts and layoffs.

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