07:48:43 EDT Sat 12 Jul 2025
Enter Symbol
or Name
USA
CA



Martinrea International Inc
Symbol MRE
Shares Issued 72,787,848
Close 2025-07-10 C$ 8.84
Market Cap C$ 643,444,576
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Globe says Magna, rivals hear U.S. tariffs rising 35%

2025-07-11 07:30 ET - In the News

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

The Globe and Mail reports in its Friday edition that U.S. President Donald Trump plans to impose 35-per-cent tariffs on imports from Canada starting Aug. 1, upping pressure on Ottawa as it seeks to secure a deal with the White House over the next week. The Globe's Mark Rendell and Steven Chase write that in a letter posted on his Truth Social on Thursday evening, Mr. Trump said he would increase the 25-per-cent tariffs that were imposed on Canada in March. Mr. Trump justified the levies as an effort to force Canada to do more to address U.S. complaints about fentanyl trafficking and illegal migration. "These Tariffs may be modified, upward or downward, depending on our relationship with Your Country," Mr. Trump wrote. Ottawa is making a final push to reach a trade and security deal with the U.S. by July 21. After the imposition of the so-called fentanyl tariffs in March, the U.S. exempted all Canadian goods that comply with the rules of origin outlined in the continental free trade agreement, significantly reducing the impact of the tariffs. Bloomberg and others reported the White House intends to keep the exemption in place. Mr. Trump has imposed a 25-per-cent tariff on automobiles, with a carve-out for U.S. parts.

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