US trims tariff on Bangladesh to 19%

Bangladesh had secured a reduced 19 per cent tariff under a trade agreement with the US that would exempt some textiles and garments manufactured with US materials, interim government chief Muhammad Yunus said.

He said Washington had “committed to establishing a mechanism for certain textile and apparel goods from Bangladesh using US-produced cotton and man-made fibre to receive zero reciprocal tariff in (the) US market”.

According to Commerce Secretary Mahbubur Rahman, Bangladesh’s key export-earning ready-made garments (RMG) made from cotton and synthetic fibres imported from the US would enjoy zero reciprocal duty under the deal.

The commerce ministry said apart from cotton, the deal included provisions for importing US wheat, soybean and LNG, refraining from imposing tariffs on e-commerce, complying with US-mandated intellectual property rights standards, and supporting US proposals for reforming the World Trade Organisation (WTO).