On 9th February, the US and Bangladesh signed a reciprocal tariff agreement, and the US reduced reciprocal tariffs on Bangladeshi exports from 20 per cent to 19 per cent.

In a statement, Bangladeshi interim government’s Chief Advisor Muhammad Yunus said that the US has “committed to establishing a mechanism for certain textile and apparel goods from Bangladesh using US cotton and man-made fibre to receive zero reciprocal tariff in the U.S. market.”

As per the White House, Bangladesh will cooperate in expanding market access for US exports, especially soybeans, corn, civil aircraft and motor vehicles.

US Ambassador Jamieson Greer said, “Under President Trump’s leadership, the United States is pursuing a trade policy that delivers real results for American workers and businesses, strengthening our economic and security partnerships abroad. Today’s signing of the Agreement on Reciprocal Trade with Bangladesh is the first in South Asia and marks a meaningful step forward in opening markets, addressing trade barriers, and creating new opportunities for American exporters. I commend Bangladesh’s Commerce Adviser Sheikh Bashir Uddin for his constructive engagement to achieve a more balanced and reciprocal trading relationship.”

As per the US-Bangladesh trade deal, Bangladesh will purchase $15 billion in US energy products, and around $3.5 billion in ‌purchases of US agricultural products. Biman Bangladesh is likely to purchase 4 Boeing aircraft in addition to buying US military equipment and limit its purchases from certain countries.

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