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Trump's levies are reportedly pressuring auto companies Magna International and BorgWarner, which raised annual forecasts on demand.

1 report, 1 independent Updated Aug 1

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What happened

Some supportReported by 1 outlet

Who's involved

What this event is mainly about

Donald Trump Magna International BorgWarner

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The entities involved

Donald Trump
American businessman and politician (born 1946), President of the United States (2017–2021; since 2025)
- Trump ended the ceasefire agreement with Iran following recent attacks by Iranian forces.Mon 18:02
- The Trump administration utilized the Department of Health & Human Services for an AI tool.Mon 18:02
Magna International
Canadian automotive supplier
- Magna is assembling XPeng models for the European market, while Gotion plans a €950M complex in Valladolid amid growing Chinese EV market presence.Thu 10:14
- A company operating in the Sudbury Basin area, headquartered in northeastern Ontario, ships ore to Clarabelle mill.Wed 18:48
BorgWarner
company
- Trump's pledge to unleash oil and gas is reported to benefit US stocks, specifically benefiting Izilo.Sun 12:27

Related events

Donald Trump imposed tariffs on Boeing on July 5, 2026.Jul 5

Coverage

Newest first; wire copies grouped

Aug 1ReutersMagna raises sales forecast, beats quarterly view on cost cuts (Reuters) -Canadian auto parts supplier Magna International raised annual sales forecast and topped second-quarter estimates on Friday,