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Political Power Boosts Controversial Green Energy Financing Scheme
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Please use a supported version for the best MSN experience. Donald Trump Will Crush Magna International Inc. The Motley Fool 6 days ago Joey Frenette Provided by Fool donald_trump_16-9 Editors note: The opinions in this article are the authors, as published by our content partner, and do not represent the views of MSN or Microsoft. Magna International Inc. (TSX:MG)(NYSE:MGA) is a Canadian company that is the leading global automotivesupplier with 285 manufacturing operations and 83 product development, engineering, and sales centres. The stock fell 3.13% this Monday as BMO Capital Markets warned investors that Donald Trumps border tax would wreak havoc on Canadian auto parts manufacturers. The stock pulled back a lot less than its peers, but I believe there could be some major downside ahead once more information is released about Trumps border tax. Donald Trump is determined to make America great again by trying to encourage companies to manufacture parts and products locally. Trump threatened German car makers with a 35% import tariff, and I believe he will slap on harsh taxes because he has all of the bargaining power right now. Trump isnt afraid to speak his mind, and you can count on him to turn rhetoric into a policy, even if that means disaster for foreign companies that wish to export goods to the U.S. Magna could get dinged with a similar tax for its U.S.
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