20:00:20 EDT Fri 09 May 2025
Enter Symbol
or Name
USA
CA



Martinrea International Inc
Symbol MRE
Shares Issued 72,787,848
Close 2025-03-07 C$ 7.77
Market Cap C$ 565,561,579
Recent Sedar Documents

Globe says Martinrea's Wildeboer pans Trump tariffs

2025-03-07 08:48 ET - In the News

The Globe and Mail reports in its Friday edition that Martinrea chairman Rob Wildeboer says U.S. President Donald Trump's proposed tariffs will harm the Detroit Three and drive up vehicle prices for their customers. The Globe's Eric Atkins writes that Mr. Wildeboer says Ford, General Motors and Stellantis will face massive costs under the President's trade policy. He says: "The Detroit Three will be weaker. They will have to charge more for their pickups trucks. The people who buy them are the voting base for this president." He dismissed Mr. Trump's idea that automakers will move plants to the U.S. from Canada and Mexico to avoid tariffs, pointing to the massive costs of relocation and retooling, as well labour shortages and the supply lines that surround the plants after decades of integration. Mr. Wildeboer says, "I'm going to put on my legal hat here and say the tariffs under the USMCA are illegal." He says a raft of lawsuits are set to be filed should the levies go in place. Mr. Wildeboer says: "I think a lot of people are saying, 'What they heck is going on here? This hurts Americans.'" Martinrea employs 19,000 people at 56 factories around the world, making engine blocks, suspensions parts and other components.

© 2025 Canjex Publishing Ltd. All rights reserved.