01:56:08 EDT Sat 10 May 2025
Enter Symbol
or Name
USA
CA



Martinrea International Inc
Symbol MRE
Shares Issued 72,787,848
Close 2025-04-02 C$ 7.20
Market Cap C$ 524,072,506
Recent Sedar Documents

Globe says Magna, rivals facing auto-parts tariff May 3

2025-04-03 09:10 ET - In the News

See In the News (C-MG) Magna International Inc

The Globe and Mail reports in its Thursday, April 3, edition that Canada largely avoided additional tariffs from U.S. President Donald Trump's recent trade actions, but the auto sector faces tariffs starting Thursday. The Globe's Eric Atkins writes that experts warn this could lead to disruptions, layoffs and production cuts for the Canadian auto industry. Mr. Trump highlighted these tariffs during his press conference on Wednesday as part of a broader announcement regarding global trade levies. "Jobs in factories will come roaring back to our country," Mr. Trump said of his trade policy. Experts and economists disagree, saying it takes years to move production lines and rebuild supply chains. Meanwhile, stock markets have tumbled amid fears of inflation and an economic recession. The tariffs on Canadian-made autos will be reduced based on their U.S.-made content. Most of the vehicles assembled at Ontario's plants have about 50-per-cent U.S. content. The tariffs are paid by the U.S. importers of autos and it is expected they will pass on the costs to consumers, driving inflation and slowing the economy. The U.S. also plans to apply a tariff to auto parts entering the U.S. as early as May 3.

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