1055 ET - Linamar, Magna International and Martinrea, Canada's major auto parts makers are down between 2.5% and 4% after President Trump threatens further tariffs on Canada's auto industry that would "permanently" shut down the sector. In a Truth Social post, Trump claimed its northern ally has posed an abusive threat to the U.S. with its own tariffs, and that he "will substantially increase, on April 2nd, the Tariffs on Cars coming into the US which will, essentially, permanently shut down the automobile manufacturing business in Canada." The threat was mentioned at the same time that he said he would double the tariff on steel and aluminum in retaliation to Ontario's electricity tariff. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
March 11, 2025 10:55 ET (14:55 GMT)
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