US President Donald Trump has announced that India and the US agreed to a trade deal under which Washington will bring down the reciprocal tariff on Indian goods to 18 per cent from current 25 per cent. Trump imposed 50 per cent tariffs on Indian goods, including the 25 per cent punitive tariffs for India's procurement of Russian crude oil. India now has a clear advantage over competing export economies in the region, with lower tariff rates compared to competing export economies. Let's look at the current tariffs imposed on various other countries.
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