The Financial Post reports in its Friday, Aug. 15, edition that Canadian auto parts companies say the current North American trade agreement is helping them manage headwinds from south of the border, even as tariff disruptions intensified over the past months.
A Canadian Press dispatch to the Post reports that with recent earnings reports from Martinrea International and Linamar, both firms highlighted compliance with the Canada-U.S.-Mexico Agreement as a source of shelter from the harsh tariffs from the U.S. Linamar executive vice-chair Linda Hasenfratz said on an earnings call: "Despite the myriad of tariffs put in place over the last several months, Linamar can continue to have minimal bottom-line impact. We have some impact in a few areas, but not at a material level." Martinrea also said its tariff impact is manageable. It maintained its outlook for the year, expecting its sales to be between $4.8-billion and $5.1-billion. Linamar reported net earnings of $126.9-million in its second quarter, down from $174.1-million a year earlier. The auto parts manufacturer said its sales totalled $2.6-billion during the quarter, down from $2.8-billion in the same period last year.
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