Under the new policy, Bangladesh will face a 20 percent tariff
The deal for Dhaka was secured just hours before a midnight deadline set by President Donald Trump
As the tariff talks between Bangladesh and the United States wrap up today, Dhaka is expecting a deal that would see tariffs on its exports to the American market well below the steep 35 percent rate imposed by the Trump administration from August 1.
Bangladesh is now racing to finalise a deal before the window closes on August 1.
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Entrepreneurs in the Bangladesh delegation currently in Washington will once again push for duty-free access to the American market for garments made from US cotton during the final round of tariff negotiations with the Trump administration today.
The tariff negotiations are scheduled to begin on July 29 and continue until July 31
Increasing soybean imports from the United States could help narrow the trade gap between Bangladesh and its biggest single-nation apparel market, according to an American industry group.
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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Although tanners have voiced opposition, the government will allow rawhide exports during the Eid-ul-Azha season with the aim of fostering demand and ensuring better prices for traders at the field level, Commerce Secretary Mahbubur Rahman said yesterday.
American Apparel & Footwear Association (AAFA), the US’s largest trade body in the apparel and footwear sector, and the Fair Labour Association (FLA) tied Bangladesh’s efforts to improve labour rights to ensure successful tariff negotiation with the Trump administration.
The association urges the interim government to send a letter to India seeking the opportunity
Bangladesh does not want any further escalation in tension with India, as the recent retaliatory moves are affecting bilateral trade
The commerce ministry has convened an inter-ministerial meeting today to work out ways to address India’s restrictions on imports from Bangladesh through land ports.
