Magna dealing with COVID-19 and tariffs, to a certain extent — Panjiva
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Magna dealing with COVID-19 and tariffs, to a certain extent

China 2393 Cons. Discr. - Autos 858 Coronavirus 256 Mexico 656 U.S. 4229

Auto parts maker Magna International has suffered production interruptions in China resulting from the COVID-19 coronavirus. The firm’s CEO, Donald Walker, has stated that the firm’s factories are “up and running, at least to a certain extent” while the firm’s customers “can airfreight things if they have to” to meet just-in-time supply chain requirements. Magna’s reliance on Chinese parts in its U.S. supply chain has been declining. Panjiva’s data shows shipments from China to the U.S. linked to the firm fell by 35.8% year over year in 2019, accelerating to a 47.0% slump in Q4 as a resu...

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