US EditionPublished • loading... • Updated
US Lowers Reciprocal Tariff on Bangladeshi Goods
The agreement cuts U.S. tariffs on Bangladeshi goods to 19% and exempts some textiles made with U.S. materials, aiding a sector that employs 4 million workers, officials said.
- On Monday, Muhammad Yunus, chief adviser of Bangladesh's interim government, announced the United States will lower its reciprocal tariff on Bangladeshi goods to 19% with textile exemptions.
- After nine months of talks beginning in April last year, negotiators eased earlier U.S. 37% tariff proposals that had alarmed Bangladeshi manufacturers in August last year.
- Bangladesh won a mechanism to exempt certain ready-made garments using U.S.-produced cotton and man-made fibre from reciprocal duties, and agreed to accept U.S. vehicle safety and FDA certifications.
- The agreement helps Bangladesh stay competitive with India at 18%, while the White House anticipates $3.5 billion in U.S. agricultural and $15 billion in energy purchases over 15 years.
- Regionally, with Bangladesh heading to elections on Thursday, the trade deal ties market access to reforms, supporting WTO and US trade strategies.
Insights by Ground AI
15 Articles
15 Articles
US Cuts Bangladesh Tariff To 19% In New Trade Deal
The United States and Bangladesh unveiled a deal Monday to lower US tariffs on goods from the world's second-biggest garment manufacturer, with Washington also committing to work towards duty exemptions for certain textiles and apparel.
·New Delhi, India
Read Full Article
Coverage Details
Total News Sources15
Leaning Left3Leaning Right5Center2Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 30%
C 20%
R 50%
Factuality
To view factuality data please Upgrade to Premium
