May 2 (Reuters) - Canadian auto parts supplier Magna

International ( MGA ) said on Friday that it plans to implement

cost-saving measures to cushion the hit from U.S. President

Donald Trump's sweeping tariffs.

The cost-cutting plans come after the company missed

first-quarter profit estimates due to a 3% decline in global

vehicle production, with Magna especially impacted by Tata

Motors' Jaguar halting production of I-Pace and

E-Pace.

Trump's wavering tariff policies could further roil Magna's

financials, as they have forced U.S. auto companies to rethink

part sourcing and production output.

"We are actively advancing several initiatives, including

operational excellence, restructuring, commercial recoveries,

and reduced capital and engineering spending to mitigate the

impact of tariffs," said Magna CEO Swamy Kotagiri.

Further details on the cost cuts could be the key focus for

investors on the company's conference call with analysts later

in the day.

On an adjusted basis, Magna earned 78 cents per share for

the quarter through March, compared with analysts' estimates of

90 cents per share according to data compiled by LSEG.

Overall quarterly sales fell about 8.2% to $10.07 billion

from a year earlier but outperformed estimates of $9.7 billion.

Its peer Aptiv, however, forecast its

second-quarter profit above analysts' estimates on Thursday,

betting on benefits from its previously employed cost-saving

measures.