Bangladesh-U.S. Tariff Agreement Promises Duty-Free Textile Access

Bangladesh and the United States have signed a new tariff agreement, reducing U.S. tariffs to 19%. The deal also establishes a zero reciprocal tariff mechanism for certain Bangladesh textile and apparel goods made with U.S. cotton and man-made fibers.

The United States and Bangladesh have inked a significant agreement on tariffs, officials announced Monday. The agreement sees the United States lowering its tariff rate to 19%, a move confirmed by Bangladesh Chief Adviser Muhammad Yunus.

In a statement on social media platform X, Yunus stated that the understanding also includes a zero reciprocal tariff arrangement. This will benefit certain textile and apparel goods from Bangladesh that use U.S.-produced cotton and man-made fibers, further strengthening trade ties between the two nations.

This development marks a notable shift in economic relations and is expected to boost Bangladesh's export potential in the U.S. market while enhancing bilateral cooperation.

(With inputs from agencies.)