Indian auto parts makers in Canada, Mexico see no major impact of tariffs

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Indian auto parts makers in Canada, Mexico see no major impact of tariffs - Business Standard

Quick Summary:

Indian auto component makers having manufacturing facilities in Canada and Mexico will face no significant impact of US President Donald Trump's latest tariff war as the two countries have been exempted from additional duties.

Due to the existing order under the International Emergency Economic Powers Act (IEEPA) related to fentanyl and migration, the White House confirmed that the new tariffs announced on Wednesday will not apply to Canada and Mexico.

Subsequently, US-Mexico-Canada Agreement (USMCA) compliant goods from both the countries will attract zero duty while non-compliant items will face a 25 per cent tariff.