Indian exporters chase US tariff refunds as Supreme Court ruling reopens duty math

Gokaldas Exports, Ceat and Balkrishna Industries are lining up to claim US tariff refunds after the Supreme Court struck down Trump's reciprocal duties. Gokaldas alone gave ₹90 crore in discounts (~2% of FY26 revenue); Balkrishna draws 13% of FY26 sales from the Americas. A federal appeal and pass-back claims from buyers cloud quantum and timing.

— Source publishedMon, 1 Jun, 2026, 09:28 IST·First seen Mon, 1 Jun, 2026, 09:30 IST·Source Mint · Companies

What happened

Indian exporters including Gokaldas Exports, Ceat and Balkrishna Industries are pursuing US tariff refunds after the US Supreme Court struck down Trump's

Key facts

  • 10% tariff
  • 27% reciprocal tariff
  • 50% peak tariff
  • 3-15% earlier rate
  • 13% Americas sales (Balkrishna FY26)
  • ₹90 crore discounts (Gokaldas)
  • 2% of FY26 revenue
  • 33% Camso North America share

Why this matters

Reopened tariff math shifts US-India apparel and tyre export economics—revisit cross-border deal models, earn-out structures and any recent acquisitions priced on post-tariff margins for Americas-exposed targets.

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