India Exports Poised to Rise as US Slashes Tariffs to 18%

Indian exporters are set for a boost after the US lowered tariffs on shipments from the country, easing months of uncertainty and triggering a sharp rally in local markets.

The new 18% levy, announced late Monday by President Donald Trump, is lower than the tariffs faced by regional competitors including Vietnam and Bangladesh, both at 20%. In restoring India’s price advantage in the US market, the pact is a reprieve for a wide swathe of labor-intensive exporters — from apparel and footwear makers to jewelers — who have been enduring a punitive 50% levy since August.