‘Tariff cuts a diplomatic win for interim govt’

Staff reporter :

Law, Justice, and Parliamentary Affairs Adviser Asif Nazrul has hailed the United States’ decision to lower tariffs on Bangladeshi goods from 35percent to 20percent as a “significant diplomatic success” for the country’s interim government.

In a Facebook post from his verified account on Friday the adviser praised the outcome of recent high-level trade negotiations between Bangladesh and the United States, calling it “a timely achievement” that strengthens Bangladesh’s position in the global apparel market.

The tariff reduction follows the conclusion of a final round of talks held in Washington, DC, between senior Bangladeshi trade officials and representatives of the Office of the United States Trade Representative (USTR), the principal body responsible for shaping and executing American trade policy.

According to a statement from the Chief Adviser’s Press Wing, Bangladesh has now secured a 20percent tariff rate on its exports to the US-bringing it in line with key competitors such as Vietnam, Pakistan, Sri Lanka, and Indonesia, all of which face similar rates ranging from 19percent to 20percent.

“This alignment means Bangladesh’s export competitiveness, particularly in the vital ready-made garments (RMG) sector, remains intact,” the statement added. The RMG industry contributes over 80percent of Bangladesh’s total export earnings and employs more than four million workers.

Dr. Nazrul noted that the new tariff rate would help stabilize export growth during a period of global economic uncertainty, allowing Bangladeshi goods to remain attractive in the crucial US market.

While some analysts suggest the full implications of the trade deal remain to be seen, government sources believe the decision signals growing US confidence in Bangladesh’s economic and political stability under the interim administration.