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Magna International Inc
Symbol MG
Shares Issued 312,260,369
Close 2019-09-25 C$ 69.91
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NP/WP say Magna, others hear new NAFTA in jeopardy

2019-09-26 09:30 ET - In the News

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The National Post reports in its Thursday, Sept. 26, edition that President Donald Trump's top agenda item, a rewrite of the 1994 trade deal between Canada, Mexico and the United States, could be the first victim of an impeachment inquiry. A Washington Post dispatch to the Post reports that the inquiry, announced Tuesday, will test whether congressional Democrats and the White House can attempt to continue governing on other matters. Numerous Republicans have said the impeachment inquiry changes everything. "I don't know that they're ever going to get a vote because they are all fighting," Mr. Trump said Wednesday of House Democrats, accusing them of creating a "manufactured crisis." The president and his chief trade negotiator also differed publicly over prospects for congressional action. Speaking at the signing ceremony for a new U.S.-Kapan tariff-cutting deal, Mr. Trump interrupted U.S. Trade Representative Robert Lighthizer as he was predicting an eventual House vote. "And it's possible they won't vote," Mr. Trump said. "I mean, I know these people much better than you do." The White House wanted Congress to pass a new trade deal with Mexico and Canada by winter, a timeline that could now be impossible to meet.

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