US EditionAuto parts maker Magna warns tariffs will be 'destructive' but prepared to face them
- Magna International Inc. Warns that proposed tariffs could be 'devastating' and disrupt the automotive industry, according to Chief Executive Officer Swamy Kotagiri.
- Magna's revenue outlook for 2026 has decreased, forecasting between $40.5 billion and $42.6 billion, reflecting global vehicle production declines, as stated by Chief Financial Officer Patrick McCann.
- Experts predict that the tariffs could lead to significant job losses and increased costs for U.S. Consumers, as well as prompting Canada to prepare retaliatory tariffs on U.S. Products.
- The company forecasts a 20% drop in 2025 earnings if tariffs are implemented, according to stock analyst Tamy Chen from Bank of Montreal.
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18 Articles
18 Articles
All
Left
3
Center
3
Right
2
Coverage Details
Total News Sources18
Leaning Left3Leaning Right2Center3Last UpdatedBias Distribution38% Left, 38% Center
Bias Distribution
- 38% of the sources lean Left, 38% of the sources are Center
38% Center
L 38%
C 38%
R 25%
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