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HomeMarket NewsSteel Strips Wheels says the recent Trump tariffs will not impact its products
Steel Strips Wheels Share Price | Steel Strips Wheels said its product steel and alloy wheel rims are not covered by the said proclamation and will not be impacted by the 25% tariff.
By Shloka Badkar March 27, 2025, 12:30:51 PM IST (Published)
Steel Strips Wheels Ltd on Thursday, March 27, said its products will not be impacted by the recent Trump tariffs.
US President Donald Trump has imposed a 25% tariff on imports on automobiles and certain automobile parts. Steel Strips Wheels said the tariff will be imposed on imported passenger vehicles, light trucks and automobile parts such as engines, transmissions, powertrain parts and electrical compounds.
Steel Strips Wheels said its product steel and alloy wheel rims are not covered by the said proclamation and will not be impacted by the 25% tariff.
Trump announced the recent tariffs on Wednesday, March 26 (local time). "We’re going to charge countries for doing business in our country and taking our jobs, taking our wealth, taking a lot of things that they’ve been taking over the years," he said.
Trump added that the tariffs will go into effect on April 2 and the US will start collecting them a day after. The tariffs are to be on top of the levies already in place.
The US President said the tariffs are permanent and he is not interested in negotiating any exceptions.
Wednesday's announcement comes ahead of an even broader announcement of reciprocal tariffs expected on April 2.
Steel Strips Wheels Ltd shares were down 3.4% at ₹181.48 per share. The stock has declined 12.12% this year, so far.
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