North America’s largest auto parts maker said a border adjustment tax being studied by President Donald Trump would probably hurt the automobile industry, while also increasing the odds that future factories will be located in the U.S. Canada’s Magna International Inc. said the growth of “protectionist sentiments” could hurt its operations and profitability, according to a company statement Friday. The manufacturer is closely watching a potential tax overhaul in the U.S., Chief Executive Don Walker said on a conference call with analysts and investors.