The United States, after a final round of heated negotiations in Washington, has lowered its tariff rate on imports from Bangladesh to 20 percent, a significant drop from the previous rate of 35 percent.
The White House announced the new rate on Friday, a decision anticipated to significantly enhance Bangladeshi exports, especially in the vital garment industry. This breakthrough was achieved after high-level talks between Bangladeshi representatives and the Office of the United States Trade Representative, the primary agency responsible for US trade policy.
The agreement for Dhaka was finalized just hours before a midnight deadline imposed by President Donald Trump and is particularly noteworthy in light of a wider protectionist trade strategy.
In a separate statement, the White House indicated that Trump would uphold a minimum global tariff of 10 percent, while imports from nations with trade surpluses with the US would incur duties of 15 percent or more.
The successful negotiations for Bangladesh highlight a stark difference in the administration’s approach to other significant trading partners, especially India.
Washington has warned New Delhi of potential tariffs of 25 percent, a rate that would penalize it more harshly than most major economies, with the exception of Canada, which faces a 35 percent tariff rate.
