+
India in talks with US for Steel and Aluminum Tariff Exemption
Steel

India in talks with US for Steel and Aluminum Tariff Exemption

According to sources, India is currently engaged in discussions with the United States in an attempt to secure an exemption from the steel and aluminum tariffs that were imposed by former US President Donald Trump. As part of the negotiations, India has offered to withdraw certain retaliatory tariffs, particularly on agricultural goods like almonds and walnuts. However, there are concerns about the inflexibility of US negotiators, casting doubt on the likelihood of obtaining an exemption for steel tariffs.

The discussions 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 authorization to speak to the media. The Indian trade ministry, the Office of the US Trade Representative, and the US Department of Commerce did not respond to requests for comment.

Despite the ongoing discussions, a senior executive from a US industry group expressed skepticism, stating that the US 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 act that grants the president the authority to restrict imports. In retaliation, India imposed tariffs on various US products.

It is worth noting that in December, the World Trade Organization ruled against the US tariffs, deeming them in violation of global trading rules. Nonetheless, during a US Congressional Steel Caucus hearing, several leaders from the steel industry expressed support for maintaining the tariffs.

According to sources, India is currently engaged in discussions with the United States in an attempt to secure an exemption from the steel and aluminum tariffs that were imposed by former US President Donald Trump. As part of the negotiations, India has offered to withdraw certain retaliatory tariffs, particularly on agricultural goods like almonds and walnuts. However, there are concerns about the inflexibility of US negotiators, casting doubt on the likelihood of obtaining an exemption for steel tariffs. The discussions 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 authorization to speak to the media. The Indian trade ministry, the Office of the US Trade Representative, and the US Department of Commerce did not respond to requests for comment. Despite the ongoing discussions, a senior executive from a US industry group expressed skepticism, stating that the US 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 act that grants the president the authority to restrict imports. In retaliation, India imposed tariffs on various US products. It is worth noting that in December, the World Trade Organization ruled against the US tariffs, deeming them in violation of global trading rules. Nonetheless, during a US Congressional Steel Caucus hearing, several leaders from the steel industry expressed support for maintaining the tariffs.

Next Story
Infrastructure Energy

Bihar Launches Rs 53.4 Billion Green Energy Plan

The Bihar government has taken a major stride towards clean energy with the launch of two new policies and the signing of agreements totalling Rs 53.4 billion. These initiatives aim to generate 2,357 megawatts (MW) of renewable energy through solar, wind, battery storage, and other sustainable technologies.The Bihar Renewable Energy Policy 2025 and the Pump Storage Policy 2025 were officially introduced at an event in Patna. Designed to attract significant investment, the policies seek to position Bihar as a key centre for clean energy projects. Energy Minister Bijendra Prasad Yadav stated tha..

Next Story
Infrastructure Transport

Bids Invited for Rs 62.5 Billion Vizag Metro Project

The long-anticipated Visakhapatnam Metro Project has made significant progress, with the Andhra Pradesh Metro Rail Corporation inviting bids for the first civil contract under Phase 1 of the Vizag Metro. The estimated cost of this contract is Rs 62.5 billion.This engineering, procurement and construction (EPC) contract covers the design and construction of a 46.23 km viaduct spanning three corridors, including a 20.16 km double-decker four-lane flyover cum metro viaduct. The project also comprises 42 elevated metro stations across Visakhapatnam.Recently, SYSTRA Consultancy signed a Memorandum ..

Next Story
Real Estate

Oberoi Realty to Buy Hotel Horizon for Rs 9.19 Billion

A consortium led by Mumbai-listed Oberoi Realty Ltd is set to acquire debt-laden Hotel Horizon Pvt Ltd in Juhu, Mumbai for Rs 9.19 billion (approximately USD 107 million) under a resolution plan approved through India’s Insolvency and Bankruptcy Code (IBC).In a filing to the stock exchange, Oberoi Realty confirmed that the Committee of Creditors of Hotel Horizon had approved the resolution plan, following which a letter of intent was issued. The consortium also includes Shree Naman Developers and JM Financial Properties.As per the resolution plan, the consortium will make a payment of Rs 9.1..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?