The United States has reduced the tariff rate for Bangladesh from 35 percent to 20 percent following successful negotiations. In a statement issued from the White House on Thursday (July 31) local time, after the third round of tariff talks between Bangladesh and the US, this decision was confirmed.
Previously, the Trump administration had informed Bangladesh via a letter about a proposed 35 percent counter-tariff. The new tariff rate reflects a significant 15 percent reduction.
According to the White House announcement, other countries face the following tariffs: Pakistan at 19 percent, Afghanistan at 15 percent, India at 25 percent, Brazil at 10 percent, Indonesia at 19 percent, Malaysia at 19 percent, Myanmar at 40 percent, the Philippines at 19 percent, Sri Lanka at 20 percent, and Vietnam at 20 percent.
In April, the US had imposed a 37 percent tariff on Bangladesh, which was later suspended for three months to allow negotiations with various countries. At the end of this period, US President Donald Trump announced a slightly reduced tariff of 35 percent. Following three days of continuous discussions between Bangladesh’s delegation and the Office of the United States Trade Representative (USTR), the new 20 percent tariff rate was finalized.
The current average tariff rate in the US is 15 percent. With the additional 20 percent tariff, the total tariff for Bangladesh now stands at 35 percent.
The Bangladeshi delegation was led by Commerce Adviser Sheikh Bashir Uddin during the tariff negotiations.
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