Mexico Hikes Tariffs on Indian Car Imports

Mexicos recent decision to impose significant tariffs on imported goods, including cars from India, has sent shockwaves through the automotive industry. Despite lobbying efforts from Indian exporters like Volkswagen and Hyundai, the new tariffs, which could reach fifty percent, are set to begin next year. This move aligns with pressure from the US on Mexico to reduce business with China, but it also threatens to increase costs for consumers in Mexico. The Indian automakers, who rely heavily on exports to Mexico, are now forced to rethink their strategies, potentially undermining Indias efforts to position itself as a low-cost manufacturing alternative to China.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.