On April 21, CITIC Securities observed that after several rounds of tariff hikes, the tariff rates imposed on the automotive industry by the United States have soared to between 55% and 200%. For the entire vehicle sector, the risk of independent brands exporting to the US is minimal, and the majority of auto parts companies also face no direct risks. Only a handful of firms, representing roughly 5% of the industry, face risks of less than 10%. Two-wheeler companies are actively adapting to these changes, for instance, by reinforcing localized supply chains in Mexico and accelerating the construction of factories within the US. Furthermore, amidst tariff disputes between the US and various countries, the European Union has reinitiated negotiations with China concerning the import of new energy vehicles. Meanwhile, the competitiveness of Mexico's auto parts industry chain has seen a relative improvement.