The United States (US) has reduced its tariff rate on goods from Bangladesh to 20 per cent, a significant reduction from the previous 35 per cent, after a final round of negotiations in Washington.
The announcement was made by the White House today, after the final round of the talks in Washington DC between Bangladeshi officials and the Office of the United States Trade Representative (USTR), the main body responsible for overseeing US trade policy.
Experts opined that the lower tariff is expected to increase Bangladeshi exports to the US, especially in the garment sector.
The move follows the Trump administration`s imposition of tougher tariffs on competing exporters such as China, Vietnam and India, which could give Bangladesh a stronger foothold in the American market.
Led by commerce adviser SK Bashir Uddin, national security adviser Khalilur Rahman, commerce secretary Mahbubur Rahman and additional secretary Nazneen Kawshar Chowdhury were present during the tariff talk.
On the American side, Assistant United States Trade Representative Brendan Lynch headed the delegation, along with officials responsible for trade and tariff matters.
