Skip to content
Subscriber Only

Red Tape in New Nafta Could Drive Automakers Away, Magna Warns

  • Top parts supplier wary of excessive ‘administrative burden’
  • Cars remain key bone of contention as U.S. pushes for deal
Video player cover image
Canada's Baird Says Nafta Sunset Clause Would Be 'Disastrous'

The head of North America’s biggest auto parts supplier says automakers will move more production offshore if changes to Nafta make it too complicated, echoing a similar warning from Canada’s foreign minister.

Magna International Inc. Chief Executive Officer Don Walker, speaking Thursday at his company’s annual meeting north of Toronto, said any revised North American Free Trade Agreement has to encourage long-term investment and that the sector favors a “do no harm” approach.