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US to lower tariff for Bangladesh from 20 to 19% — newspaper

According to Commerce Secretary Mahbubur Rahman, the United States has granted duty-free or preferential access to 2,500 Bangladeshi goods, while Bangladesh has granted duty-free or preferential access to 4,400 American goods

NEW DELHI, February 9. /TASS/. The interim government of Bangladesh signed a tariff agreement with the United States, which provides for a reduction in the country's trade tariff from 20% to 19%, Commerce Secretary Mahbubur Rahman told The Daily Star after the signing.

"The reciprocal tariff for Bangladesh to the USA has been fixed at 19%, down from the existing 20%, as Bangladesh and the USA tonight signed a trade agreement," he said.

According to him, the United States has granted duty-free or preferential access to 2,500 Bangladeshi goods, while Bangladesh has granted duty-free or preferential access to 4,400 American goods.

Rahman added that garments made from imported American cotton will be subject to zero tariffs when exported to the US. Pharmaceuticals, fish products, particle board, and all types of food products will also enjoy duty-free access to the US market.

"The reduction of reciprocal tariff will grant further advantage to our exporters, while zero reciprocal tariff on specific textile and apparel exports from Bangladesh using US inputs will give substantial added impetus to our garments sector," Rahman noted.

The agreement is reported to come into effect after both sides publish the relevant notifications.

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