SIAM Expects Minimal Impact Of Reciprocal Tariffs By US On Indian Automobile Sector
SIAM Director General Rajesh Menon said that while the tarrifs don't include the automobile sector, the other reason is that there are limited exports to the US.
The Indian automobile industry does not expect to have any significant impact by US President Donald Trump's reciprocal tariff announcement as autos are not covered in it, besides there are limited exports to the US, industry body SIAM said on Thursday.
It is to be noted that automobiles are not covered in this order since they are already subject to Section 232 tariffs at 25%, announced earlier in President Trump's order on March 26, 2025, Society of Indian Automobile Manufacturers Director General, Rajesh Menon said in a statement.
"We don't expect any significant impact on the Indian automobile industry since there are limited exports to the US, but we will continue to monitor the situation," he noted.
As part of reciprocal tariffs on about 60 countries to counter higher duties on American products imposed globally, the US on Wednesday announced 27% reciprocal tariffs on India saying New Delhi imposes high import duties on American goods.
However, autos and auto parts and steel and aluminium articles, already subject to Section 232 tariffs at 25%, announced earlier in US President Donald Trump's order on March 26, 2025, are not covered in the latest order.
