NEW DELHI,3 Feb 2026 : India and the United States have agreed to a trade deal under which Washington will slash its tariff on Indian goods to 18 per cent from the current 50 per cent in exchange for New Delhi halting Russian oil purchases and lowering trade barriers, US President Donald Trump said. The deal gives the lowest tariff rates to India compared to other major Asian economies.
With the new deal in place, India is now among the nations facing one of the lowest tariff rates from the Donald Trump administration compared with other major Asian economies, including China, Pakistan, Indonesia, Bangladesh and Vietnam. However, the duties levied by the US on trade with India are slightly higher than those imposed on its European partners and by Japan and South Korea.
Some of the countries facing the highest tariffs from the US include Brazil (50 per cent), Myanmar (40 per cent), Laos (40 per cent), China (37 per cent) and South Africa (30 per cent).
Within Southeast Asia, countries facing higher duties include Vietnam (20 per cent), Bangladesh (20 per cent), Pakistan (19 per cent), Malaysia (19 per cent), Cambodia (19 per cent) and Thailand (19 per cent)
Countries with Lower Tariffs
Nations that have the lowest tariff agreement with the US include the United Kingdom (10 per cent), the European Union (15 per cent), Switzerland (15 per cent), Japan (15 per cent) and South Korea (15 per cent).
Picture credit social media
