HomeLatestIndia Urges US to Ease Steel and Aluminium Duties

India Urges US to Ease Steel and Aluminium Duties

India’s efforts to secure exemptions from the United States’ steep tariffs on steel and aluminium have yet to yield results, as discussions between the two nations continue without a definitive agreement.

The US imposed a 25% tariff on steel and a 10% tariff on aluminium imports, measures that have significantly impacted India’s engineering export sector. These tariffs, effective from March 12, 2025, have raised concerns among Indian exporters about declining orders and increased production costs. The Engineering Export Promotion Council (EEPC) estimates that approximately $7.5 billion of India’s $20 billion annual engineering goods exports could be affected. In response, Indian officials have engaged in negotiations with their US counterparts, seeking relief from these tariffs. Discussions held between April 23 and April 25 in Washington focused on India’s request for exemptions, particularly for steel and aluminium products. However, sources indicate that the US has not agreed to reduce sectoral tariffs, maintaining its stance on protecting domestic industries.

The Indian government is also considering reciprocal measures, including reducing import tariffs on select US goods with low inbound shipments. This strategy aims to encourage the US to offer more favorable terms in the ongoing trade negotiations. Additionally, India is evaluating the impact of these tariffs on its domestic industries and exploring ways to mitigate the adverse effects. The broader context of these negotiations includes the US administration’s emphasis on reciprocal trade agreements. President Donald Trump has highlighted the need to address trade imbalances and ensure fair practices. While progress has been made in discussions with several countries, including Japan and South Korea, a trade agreement with India remains pending.

Despite the challenges, both nations continue to work towards a comprehensive bilateral trade agreement. Such an agreement would aim to expand trade, enhance market access, and reduce tariff and non-tariff barriers. The Indian government remains engaged with the US administration at various levels to arrive at a mutually beneficial solution. As negotiations proceed, the Indian engineering sector faces uncertainty. Exporters are urging the government to provide support, including export credit and technological assistance, to maintain competitiveness in the global market. The outcome of these trade talks will significantly influence the future of India’s manufacturing and export industries.

India Urges US to Ease Steel and Aluminium Duties
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -spot_img

Most Popular

Recent Comments

Maharashtra Floatel Plan Raises Coastal Safety Questions

Maharashtra Floatel Plan Raises Coastal Safety Questions

Navi Mumbai’s Belapur waterfront could see three floating hospitality facilities under a Maharashtra Maritime Board (MMB) initiative to expand tourism around Panvel Creek. The...
Bengaluru Commercial Real Estate Sees Fresh Leasing Momentum

Bengaluru Commercial Real Estate Sees Fresh Leasing Momentum

Bengaluru’s commercial property market has secured another major office lease, with Blackstone COE India Private Limited taking up approximately 4.5 lakh sq ft at...
Mumbai Real Estate Fund Targets Office Expansion

Mumbai Real Estate Fund Targets Office Expansion

Institutional investors and wealthy individuals have committed around Rs 950 crore to the first fundraising round of Bajaj Alts’ commercial real estate fund, signalling...
Mumbai Construction Technology Targets Greener Urban Growth

Mumbai Construction Technology Targets Greener Urban Growth

Mumbai’s construction sector is set to gain another technology-focused entrant, as a veteran Indian entrepreneur plans to introduce artificial intelligence and factory-based manufacturing to...
Uttar Pradesh RERA Tightens Checks On Property Payments

Uttar Pradesh RERA Tightens Checks On Property Payments

Uttar Pradesh has renewed scrutiny of how homebuyers transfer money to real estate developers, urging purchasers to verify project-specific bank accounts before paying booking...