Overview

• Magna International is implementing cost-saving measures, including restructuring and reduced spending, to offset $250 million in tariff-related costs this year.
• U.S. Customs guidance exempts Canada-U.S.-Mexico Agreement (CUSMA)-compliant auto parts from the 25% tariff, providing relief for suppliers like Magna.
• Magna aims to increase the share of CUSMA-compliant parts shipped to the U.S. from 75% to 80%, requiring design modifications and customer approvals.
• GM Canada is cutting a shift at its Oshawa plant, and Stellantis is halting operations at its Windsor plant for a week starting May 5, citing tariff pressures.
• Magna revised its annual sales guidance to $40–41.6 billion, excluding potential tariff impacts, after reporting an 8.2% decline in first-quarter sales.