India-US trade deal: Following the announcement of the India-US trade deal on Monday, in which Washington reduced tariffs on India to 18 per cent, New Delhi now faces lower tariffs than its regional export competitors in South and Southeast Asia. With the new tariff structure, India now has a clear advantage over competing export economies in the region, with lower tariff rates compared to Indonesia at 19 per cent and Bangladesh and Vietnam with 20 per cent each.