Bangladesh Seeks Tariff Relief Amid Urgent Trade Talks With US
Bangladesh is in urgent negotiations with the US to avert looming tariffs that threaten its key exports, particularly apparel. Set to take effect on July 9, the proposed US tariff policy includes a 37% duty on Bangladeshi cotton products more than double the current 16% with a 10% baseline levy already in place.
A high-level trade delegation from Bangladesh is finalising a reciprocal trade deal, pledging to boost imports of US goods including Boeing aircraft, LNG, wheat, automobiles, and capital machinery to reduce the US$ 6.15 billion trade surplus in its favour.
Industry leaders urge targeted incentives and infrastructure partnerships. BGMEA and BKMEA warn of declining competitiveness and potential loss of US buyers.
Bangladesh exported US$ 8.36 billion to the US in 2024, while imports stood at US$ 2.21 billion. With the July 8 meeting viewed as critical, hopes remain for a last-minute deal to prevent trade disruption.
