A welcome relief – thank you, United States

The recent decision by the United States to reduce its tariff on Bangladeshi imports from 35 per cent to 20 per cent is a timely and commendable outcome, marking a turning point in what had been a growing concern for Bangladesh’s export sector.

We extend our sincere thanks to the United States government for demonstrating flexibility and goodwill in response to Bangladesh’s diplomatic and economic engagement.

This reduction follows intense and high-level negotiations between Bangladeshi representatives and the Office of the United States Trade Representative (USTR), culminating in a balanced and constructive agreement.

In an increasingly protectionist global environment, where the Trump administration has imposed new tariffs of up to 41 per cent on products from 70 countries, Bangladesh’s ability to negotiate a more favourable rate is no small feat.

The new 20 per cent tariff — down 15 points from the temporary 35 per cent — offers a critical reprieve for our export-led economy.

It will particularly benefit the ready-made garments (RMG) sector, which remains the backbone of our foreign trade and employs millions.

With the US accounting for approximately $8 billion in annual garment exports, the reduced tariff ensures that Bangladeshi goods remain competitive against regional peers like India and Vietnam.

We commend the negotiating team, led by National Security Adviser Dr Khalilur Rahman, Commerce Adviser Sheikh Bashir Uddin and supported by the Chief Adviser’s Office, for securing what Chief Adviser Professor Muhammad Yunus rightly termed a “landmark achievement.”

Equally deserving of praise are the private sector stakeholders, including BGMEA, who constructively engaged with US counterparts to help address trade imbalances and demonstrate Bangladesh’s commitment to fair trade practices.

This decision reflects not only effective diplomacy but also the growing maturity and credibility of Bangladesh on the world stage.

It also sets a strong foundation for deepening bilateral trade ties and exploring new areas of economic cooperation between the two nations.

We thank President Donald Trump and the US administration for recognising Bangladesh’s importance as a trading partner and for acting in the spirit of mutual benefit.

Let this moment serve as a reminder that diplomacy, dialogue, and shared economic interests can still triumph in an era often defined by trade tensions.

Looking ahead, we must build on this momentum — diversifying our export base, boosting value-added production, and continuing to strengthen bilateral ties with our largest trading partner.

This is not just a diplomatic success; it is a stepping stone towards long-term, sustainable economic growth.