BD seeks 10-20pc tariff in final US trade negotiations

Business Desk :

The trade team from Bangladesh has left for the United States to take part in the third and last round of talks with the Trump administration in an effort to obtain a lower tariff rate on goods from Bangladesh that would go into effect on 1st August.

The deadline for the negotiations is 31st July. Officials are hoping for a better conclusion, but now, Bangladeshi goods entering the US market are subject to a 35per cent duty.

According to industry analysts, Bangladesh might be able to reach a tariff rate of between 10 and 20 percent, which is comparable to what has been agreed upon with other nations.

Vietnam obtained a 20per cent tariff, Indonesia and the Philippines about 19per cent, Japan 15per cent , the UK 10per cent , and the EU 15per cent , for comparison, reports apparel Resources News.

Local sources suggest that a tariff of 20per cent would be most favorable for Bangladesh.

Zaidi Sattar,chairman of the Policy Research Institute of Bangladesh, noted that Bangladesh has become a significant garment exporter to the US, but future export prospects hinge on securing a good tariff deal.