India, Aug. 28 -- India's tyre industry has warned that steep new US tariffs could severely damage the country's export momentum to its largest overseas market, as manufacturers face duties of up to 50 percent compared with lower rates for regional competitors.
The Automotive Tyre Manufacturers' Association (ATMA) stated on Wednesday that the tariff increases place Indian exporters at a significant disadvantage compared to rivals from China, Thailand, Vietnam, Cambodia, and Indonesia, which continue to benefit from substantially lower duties.
Under the new structure, Indian tyre exports will face tariffs of 50 percent on most categories and 25 percent on specific segments, the industry body said.
The United States accounts for 17 percen...