The US is signing new trade deals with Asian countries to lower tariffs

The United States has been finalizing a series of new trade agreements with countries in South and Southeast Asia. These deals are focused on lowering the tariffs, or taxes, that each country charges on goods imported from the other.

Indonesia and Bangladesh have both signed deals that lower the general US tariff rate on their goods to 19%. The deals also include exemptions for specific products, like palm oil for Indonesia and certain clothing items for Bangladesh. India has also reportedly secured a deal for zero tariffs on its textile exports to the US, matching a benefit given to Bangladesh.