19:40:38 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
Recent Sedar Documents

FP/wire say Magna, rivals hear Carney vow tariff relief

2025-04-16 07:49 ET - In the News

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

The Financial Post reports in its Wednesday edition that Liberal Leader Mark Carney said his government will allow automakers to import U.S.-manufactured cars and trucks without tariffs, as long as the companies keep making vehicles in Canada. A Bloomberg dispatch to the Post reports that the move provides some relief from the trade war to companies including General Motors and Stellantis that have assembly plants in Ontario but still export large quantities of vehicles from the United States into Canada. Last week, Mr. Carney put retaliatory tariffs of as much as 25 per cent on vehicles made in the U.S., effectively matching an earlier move by U.S. President Donald Trump on foreign autos. The two countries, along with Mexico, have operated a tightly integrated automotive supply chain for decades. If a manufacturer cuts production or investment in Canada, the number of tariff-free vehicles it will be permitted to import will be reduced, the Finance Department said. Most of the cars and trucks made in Canada are shipped to the U.S., and U.S.-made vehicles dominate sales at Canadian auto dealers. The Carney government's announcement comes amid growing concern that automakers will pull production out of Canada.

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