Bangladesh has successfully negotiated a 20% reciprocal tariff rate with the United States

A high-powered delegation from Bangladesh's interim government, led by Commerce Adviser Sk Bashir Uddin, successfully concluded a final round of talks with the Office of the United States Trade Representative (USTR).

This new rate is seen as a major win for the Bangladeshi ready-made garment (RMG) sector, which accounts for the vast majority of the country's exports to the U.S. By securing a rate lower than many of its competitors, including India (25%) and Vietnam (20%), Bangladesh is expected to maintain its competitiveness in its largest export market.

In return for the tariff reduction, Bangladesh has reportedly agreed to a new "reciprocal trade framework" aimed at addressing its existing trade deficit. Key components of this agreement include:

• A commitment to purchase 25 Boeing aircraft from the U.S.

• Increased imports of various American products, including wheat, cotton, soybeans, and liquefied petroleum gas (LPG).

The negotiations were described as a strategic effort to balance trade and strengthen bilateral ties. Officials noted that the private sector played a crucial role, with business leaders coordinating with U.S. suppliers to facilitate the increased imports.

The news has been met with relief and cautious optimism from industry leaders, who believe this outcome provides a stable path forward for the country's vital export sector amid a challenging global trade environment.