Exporters To Negotiate With Buyers On US Tariffs

New Delhi: With the US announcing 26 per cent additional import duties on Indian goods from April 9, domestic exporters on Friday said they have started talks with their American buyers on ways to absorb these heavy taxes. According to them, communications between the Indian suppliers and American buyers have already started moving as these duties would hurt exports and job creation. "We have to talk to them about how to handle this unprecedented situation," Federation of Indian Export Organisations (FIEO) President SC Ralhan said.

The Ludhiana-based hand tool (an engineering sector item) exporter also said that the sector will not be able to absorb the high duties because of the high steel cost in the domestic market. "Over this, the government is considering imposing a safeguard duty, which they should reconsider.