New Delhi, July 3 -- A new trade agreement between the United States and Vietnam is raising concerns and offering key lessons for India, especially for Indian exporters who see Vietnam as both a competitor and a partner in regional value chains, according to a report by the Global Trade Research Initiative (GTRI).

The report highlighted that despite a historic trade agreement signed in 2000 that allowed Vietnamese goods to enter the US at concessional tariffs of 2 to 10 per cent, the new deal imposes a flat 20 per cent tariff on all Vietnamese exports to the U.S.

This move could affect Vietnam's export flow worth USD 135 billion and reverse two decades of trade liberalization.

GTRI stated "For Indian exporters eyeing Vietnam as a compe...