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India now most heavily taxed among Asian peers
India just got hit with a big jump in tariffs—its effective rate is now 29.1% after the US slapped on an extra 25% duty, mainly because of India's ties with Russia.
This means Indian goods heading to the US are taxed more than ever, making India the most heavily taxed among its Asian peers.
Vietnam, Philippines pay much lower tariffs
While countries like Vietnam and the Philippines pay much lower tariffs (12% and 10.2%), India's rates have surged past Bangladesh, Pakistan, and Indonesia too.
With a comprehensive tariff rate at 31.1%, over $63 billion worth of Indian exports—like textiles, jewelry, and chemicals—now face tougher competition in the US market thanks to these higher taxes.