Don Walker, CEO of automotive-parts maker Magna International, has warned that a revised NAFTA deal could be a “lose-lose-lose” if it becomes overly complex and bureaucratic. That’s likely a reference to the critical rules-of-origin component of the deal. Magna operates in one of the most exposed industries to NAFTA negotiations – autos account for 72% of the U.S. trade deficit with Mexico and Canada. It has also struggled recently, with revenues in the U.S. down 11% on the past year in the third quarter while its seaborne imports to the U.S. fell 13% in the fourth quarter. It is highly ...