19:29:13 EDT Fri 09 May 2025
Enter Symbol
or Name
USA
CA



Martinrea International Inc
Symbol MRE
Shares Issued 72,787,848
Close 2025-04-15 C$ 6.87
Market Cap C$ 500,052,516
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Globe says Magna, rivals see Trump blink on tariffs

2025-04-15 08:47 ET - In the News

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

The Globe and Mail reports in its Tuesday edition that U.S. President Donald Trump is floating potential tariff relief for car companies and auto-part suppliers, such as Magna International, Linamar and Martinrea international. The Globe's Adrian Morrow and Eric Atkins write that Mr. Trump said Monday that automakers that source parts from Canada and Mexico "need a little bit of time" to reorganize supply chains to produce more in the U.S. "I'm looking at something to help some of the car companies," he said, without providing details. Earlier in the year, Mr. Trump dithered on tariffing Canada and Mexico before ultimately settling on a 10-per-cent rate for oil, gas and potash and 25 per cent for everything else, but exempting goods traded under the U.S.-Mexico-Canada agreement. Canadian- and Mexican-made autos, steel and aluminum are still subject to the separate 25-per-cent tariff regardless of whether they trade under USMCA. David Adams, head of Global Automakers of Canada, told The Globe it is difficult to divine Mr. Trump's intentions from the brief comments Monday. However, Mr. Adams said the 25-per-cent tariffs are a violation of USMCA, which Mr. Trump signed in his first term, so it would make sense to drop them.

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