11:42:26 EDT Sun 06 Jul 2025
Enter Symbol
or Name
USA
CA



Martinrea International Inc
Symbol MRE
Shares Issued 72,787,848
Close 2025-04-28 C$ 6.99
Market Cap C$ 508,787,058
Recent Sedar Documents

Globe says Magna, rivals see push back on tariffs

2025-04-28 08:09 ET - In the News

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

The Globe and Mail reports in its Monday edition that President Donald Trump says he wants to reinvigorate the American auto industry, spurring a flurry of new assembly plants and jobs by erecting a tariff wall around the country. The Globe's Eric Atkins writes that the U.S. industry, however, is pushing back against his scheme, warning Mr. Trump's plan to levy import taxes on auto parts by May 3 will drive up prices for buyers, destroy supply chains and cause layoffs. Representatives of the industry -- including the Detroit Three automakers, parts suppliers and dealerships across the country -- have urged the Trump administration in a letter to reverse course. The letter, dated April 21, marks a rare showing of united resistance to Mr. Trump's policies in one of the U.S.'s largest manufacturing sectors. "Tariffs on auto parts will scramble the global automotive supply chain and set off a domino effect that will lead to higher auto prices for consumers, lower sales at dealerships and will make servicing and repairing vehicles both more expensive and less predictable," reads the letter, signed by heads of the American Automotive Policy Council, National Automobile Dealers Association and four other associations.

© 2025 Canjex Publishing Ltd. All rights reserved.