22:58:05 EST Sun 07 Dec 2025
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or Name
USA
CA



Martinrea International Inc
Symbol MRE
Shares Issued 72,787,848
Close 2025-09-25 C$ 10.77
Market Cap C$ 783,925,123
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Globe says Magna, rivals see Ottawa soften retaliation

2025-09-26 08:33 ET - In the News

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

The Globe and Mail reports in its Friday edition that Ottawa dropped countertariffs on a broader range of U.S. goods than initially indicated, as it softened retaliation in a bid to revive trade talks with the White House. The Globe's Mark Rendell writes that in late August, Prime Minister Mark Carney announced he was removing retaliatory tariffs on U.S. goods "specifically covered" by the U.S.-Mexico-Canada Agreement. He described this as a goodwill gesture, designed to mirror President Donald Trump's approach to tariffs, where Canadian products that meet USMCA rules of origin are not subject to the 35-per-cent across-the-board tariff. When it came to implementing the change at the end of August, however, Ottawa removed tariffs on all U.S. goods except steel, aluminum and automobiles. This means a smaller portion of the retaliatory regime implemented earlier this year remains in place than previously indicated. Trade experts said the actual impact of the discrepancy is likely small. William Pellerin at law firm McMillan LLP said that around 90 per cent of U.S. goods crossing into Canada would likely have been USMCA-compliant, similar to the proportion of Canadian exports to the U.S. under Mr. Trump's USMCA carveout.

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