Magna International Inc. closed 35.1% below its 52-week high of C$68.74, which the company achieved on April 24th.

Magna International Inc. closed 35.1% below its 52-week high of C$68.74, which the company reached on April 24th.

Magna CEO Swamy Kotagiri said tariffs will hit the industry as if COVID-19, the chip shortage, and the Great Recession happened all at once.

Magna International Inc. CEO says tariffs are untenable in the long run but the auto industry faces other challenges.