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 intense negotiations in Washington.
The announcement was made by the White House last night (31 July; Washington, DC time), 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, reports Bangladesh Sanghbad Sangstha (BSS). 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 other competitors, which could give Bangladesh a stronger foothold in the American market, reports BSS.
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