The latest levy, revealed on Wednesday evening, slightly moderates the 26% rate proposed in Trump’s April Liberation Day speech. But even at 25%, it places India at a disadvantage compared to other Asian exporters—Japan faces a 15% tariff, Vietnam 20%, and Indonesia 19%.
More worryingly for India, North American peers Mexico and Canada remain exempt under the US-Mexico-Canada Agreement (USMCA), which offers zero-tariff access to the US market for automotive components, provided they meet local content requirements.
The move has rattled India’s supplier base, especially firms closely tied to US automakers, and may slow fresh investments until trade terms are clarified.
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