Construction Industry News
According to sources, India is currently in talks with the United States in an attempt to get an exemption from the steel and aluminum tariffs imposed by former US President Donald Trump. As part of the negotiations, India has offered to withdraw certain retaliatory tariffs, especially on agricultural products such as almonds and walnuts. However, there are concerns about the inflexibility of the U.S. negotiators, casting doubt on the likelihood of obtaining a steel tariff exemption.
The talks are expected to take place during Indian Prime Minister Narendra Modi's upcoming visit to the US later this month. The Indian officials preferred to remain anonymous due to the lack of permission to speak to the media. The Indian Department of Commerce, the U.S. Trade Representative's office and the U.S. Department of Commerce did not respond to requests for comment.
Despite the ongoing discussions, a senior executive of a U.S. industry group expressed skepticism, stating that the U.S. government is unlikely to consider such a request. The steel and aluminum tariffs were initially imposed by Trump in 2018 under Section 232 of a 1962 law that gives the president the power to restrict imports. In retaliation, India imposed tariffs on several U.S. products.
It's worth noting that in December, the World Trade Organization ruled against the U.S. tariffs, deeming them in violation of global trade rules. Nevertheless, several U.S. Congressional steel industry leaders expressed support for maintaining the tariffs at a U.S. Congressional hearing.
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