It may be noted that against 50% tariff rate on Indian exports, the new US tariff rate for Bangladesh is 20%. The latest US tariff rate for Indonesia and Cambodia are 19% each. The tariff rate for Vietnam is 20%. Currently, China is the biggest exporter of textiles and apparel items to the US, followed by Vietnam, India, and Bangladesh.

Commerce Minister Piyush Goyal said India is in negotiations with the US, EU and others for trade agreements, aiming to exceed last year's $825 bn exports despite tariff challenges