ISLAMABAD: The United States has lowered the reciprocal tariff on Bangladeshi goods to 19% following the signing of a bilateral trade agreement aimed at strengthening economic ties between the two countries, the country’s state media reported on Monday.
The agreement was signed in Dhaka by Bangladesh’s Commerce Adviser Sk Bashir Uddin and National Security Adviser Khalilur Rahman, while US Trade Representative Ambassador Jamieson Greer signed on behalf of the United States, Bangladesh Sangbad Sangstha (BSS) reported, quoting the Chief Adviser’s Press Wing.
Negotiations on the deal lasted more than nine months, beginning in April last year.
Ambassador Greer praised Chief Adviser Muhammad Yunus for his leadership during the negotiations and commended the Bangladeshi team for its efforts, saying the agreement would align Bangladesh with US trade policy.
Commerce Adviser Sk Bashir Uddin described the agreement as a historic step that would significantly enhance market access for both sides.
Under the deal, the reciprocal tariff—originally set at 37% and later reduced to 20% in August last year—has now been further lowered to 19%.
The United States also agreed to introduce a mechanism allowing certain Bangladeshi textile and apparel products made with US-produced cotton and man-made fibers to enter the US market at zero reciprocal tariff.
National Security Adviser Khalilur Rahman said the tariff reduction would benefit Bangladeshi exporters, while duty-free access for specific garments would provide a strong boost to the country’s textile and apparel sector.
The agreement has been approved by Bangladesh’s Council of Advisers and will take effect once formal notifications are issued by both sides.
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