Bangladesh's relative competitiveness in the crucial apparel sector remains unaffected after the country secured a 20% tariff deal with the US, said a press statement shared by Chief Adviser Muhammad Yunus on Friday morning.
In negotiations that ended in Washington on Thursday, Bangladesh avoided a 35% retaliatory tariff, which was part of an initial US tariff package announced by President Donald Trump in April.
"Bangladesh secured a 20% tariff rate—comparable to its key apparel-sector competitors such as Sri Lanka, Vietnam, Pakistan, and Indonesia, which received rates between 19% and 20%. As a result, Bangladesh's relative competitiveness in apparel exports remains unaffected. By contrast, India received a 25% tariff after failing to reach a comprehensive agreement with the US," said the press statement shared by the chief adviser on X, formerly Twitter.
The statement quoted Khalilur Rahman, national security adviser and the lead negotiator, as saying, "We negotiated carefully to ensure that our commitments aligned with our national interests and capacity.
"Protecting our apparel industry was a top priority, but we also focused our purchase commitments on U.S. agricultural products. This supports our food security goals and fosters goodwill with US farming states.
"Today, we successfully avoided a potential 35 per cent reciprocal tariff. That's good news for our apparel sector and the millions who depend on it. We've also preserved our global competitiveness and opened up new opportunities to access the world's largest consumer market," he added.
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