No. The python documentation states:
The import statement combines two operations; it searches for the
named module, then it binds the results of that search to a name in
the local scope.
If the import occurs at the top of a module, local scope will be global - i.e. local to the module.
On the plus side, normally imports will only occur once. Python will search the cache for imports before carrying out an import and will create a reference to a previously imported module if it finds it. This saves have to load a second copy - there's no harm (generally) in having the import statement in both modules.
The first place checked during import search is sys.modules. This
mapping serves as a cache of all modules that have been previously
imported, including the intermediate paths.
Additionally, from the FAQs:
How do I share global variables across modules?
The canonical way to share information across modules within a single
program is to create a special module (often called config or cfg).
Just import the config module in all modules of your application;