Will Mexico’s 50% tariff hike impact India’s annual $1.87 billion car exports?
Mexico has raised import duties on Indian exports, mainly in the auto industry. This will impact major automakers like Volkswagen, Hyundai, Nissan, and Maruti Suzuki, as Mexico is India's third-largest car export market, with an annual shipment of $1.87 billion. The new tariffs could harm India's manufacturing goals and lead companies to rethink their plans. Automakers have voiced their concerns.