Bangladesh expects a tariff rate of 20 percent or less in high-stakes trade talks with the US, after Washington fixed the same rate for Vietnam, a close competitor in global garment trade, officials familiar with the negotiations said.
As Bangladesh races against a July 9 deadline to secure a lower tariff regime with the United States, the stakes could not be higher.
A high-level meeting between Bangladesh and the Office of the United States Trade Representative (USTR) ended in Washington, DC, yesterday without a major decision, despite the looming expiry of a 90-day negotiation window on July 9.
Bangladesh has been engaged in negotiations to sign a tariff agreement with the US
The United States is Bangladesh’s single largest export destination.
Even amidst the tough times at present, garment shipments to the European Union (EU) showcased resilience as Bangladesh fared well in the January-April period, showing signs of an opportunity to overtake China, the largest apparel supplier worldwide, in the EU markets.
Local apparel makers are seeing delays in the confirmation of work orders for the next summer season, as US retailers and brands wait for the final decision on reciprocal tariffs by the US administration, expected in early July.
Bangladesh will propose to provide duty facilities to the US under a multilateral trading mechanism to retain low tariffs, as the 90-day pause of Trump’s reciprocal tariffs will come to an end on July 8.
Bangladesh expects a tariff rate of 20 percent or less in high-stakes trade talks with the US, after Washington fixed the same rate for Vietnam, a close competitor in global garment trade, officials familiar with the negotiations said.
As Bangladesh races against a July 9 deadline to secure a lower tariff regime with the United States, the stakes could not be higher.
A high-level meeting between Bangladesh and the Office of the United States Trade Representative (USTR) ended in Washington, DC, yesterday without a major decision, despite the looming expiry of a 90-day negotiation window on July 9.
Bangladesh has been engaged in negotiations to sign a tariff agreement with the US
The United States is Bangladesh’s single largest export destination.
Even amidst the tough times at present, garment shipments to the European Union (EU) showcased resilience as Bangladesh fared well in the January-April period, showing signs of an opportunity to overtake China, the largest apparel supplier worldwide, in the EU markets.
Local apparel makers are seeing delays in the confirmation of work orders for the next summer season, as US retailers and brands wait for the final decision on reciprocal tariffs by the US administration, expected in early July.
Bangladesh will propose to provide duty facilities to the US under a multilateral trading mechanism to retain low tariffs, as the 90-day pause of Trump’s reciprocal tariffs will come to an end on July 8.
In the budget for FY26, the government has proposed reducing import duties on certain goods and amending trade rules to enhance competitiveness in preparation for the country’s impending graduation from the list of least developed countries (LDCs).
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