The United States has slashed its tariff rate on goods from Bangladesh to 20 percent, a significant reduction from the previous 35 percent, after a final round of intense negotiations in Washington.
The 20 percent tariff is a benchmark rate and the existing 16 percent average will be added in the final count when the goods are released from the ports in the US after the completion of customs procedures. This method applies to all countries.
The deal for Dhaka was secured just hours before a midnight deadline set by President Donald Trump and stands out against a broader protectionist trade policy.
In his immediate reaction shared by the Bangladesh Embassy in Washington, Commerce Adviser Sk Bashir Uddin said, “With the 20 percent tariff imposed on Bangladesh, we will remain in a competitive position. There is no possibility that our exports to the United States will be hampered. However, we had expected a rate below 20 percent.”
