21:54:19 EST Sun 07 Dec 2025
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Martinrea International Inc
Symbol MRE
Shares Issued 72,787,848
Close 2025-08-01 C$ 8.30
Market Cap C$ 604,139,138
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Globe says Algoma, others want Ottawa's support

2025-08-05 07:18 ET - In the News

See In the News (C-ASTL) Algoma Steel Group Inc

The Globe and Mail reports in its Saturday edition that the head of Alu-Quebec is urging Ottawa for financial aid after Canada failed to secure a trade deal by President Donald Trump's deadline. The Globe's Niall McGee writes that on Thursday, Mr. Trump escalated tariffs on non-covered Canadian goods to 35 per cent, following previous levies on the aluminum sector that reached 50 per cent. Alu-Quebec president Charlotte Laramee said Friday she understands why Canada has not yet reached an agreement with the U.S. She said: "We know that the Government of Canada wants to have the best deal possible, even if it will take longer. But the longer it is, the more difficult it is for the companies." U.S. Treasury Secretary Scott Bessent expressed willingness to collaborate with Canada on aluminum tariffs, though Mr. Trump seems less flexible. BMO's George Heppel said, "Bessent is showing the carrot and Trump is showing the stick." The U.S. relies on Canada for aluminum, sourcing about 2.9 million tonnes last year, which made up 70 per cent of its imports for industries like aerospace, defence, construction and automotive. Mr. Heppel believes a truce between Canada and the U.S. will require significant commitments from Ottawa.

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