What happened
Commerce Minister Piyush Goyal has hailed a new trade deal with the US where Indian exports will be slapped with an 18% tariff while American goods enter India for free. The government has explained that this is actually a masterstroke because China's tariff is 35%, making India's 18% look like a massive discount. It’s the international trade equivalent of being happy you only got hit by a cycle when your neighbor got hit by a bus.