By Admin 
US Bangladesh Trade Deal: America has reduced the tax on goods coming from Bangladesh to 19 percent. This decision has been taken after the new trade agreement between the two countries. According to this agreement, if clothes are made in Bangladesh from raw materials made in America, then such clothes can be sent to America without any tax.
Interim Chief Advisor of Bangladesh Mohammad Yunus gave this information. He wrote on social media platform
Relief received after nine months of talks
This tariff reduction has happened after about nine months of negotiations between America and Bangladesh. Initially, in April, America had proposed to impose tax up to 37 percent on goods coming from Bangladesh. But after long negotiations, it was reduced to 20 percent in August last year. Now it has been further reduced to 19 percent. Yunus described this agreement as a big step towards saving jobs and strengthening Bangladesh’s place in the world textile market.
Who signed the agreement?
According to the government statement issued from Dhaka, the agreement was signed on behalf of Bangladesh by Commerce Advisor Sheikh Bashir Uddin and National Security Advisor Khalilur Rahman. On behalf of America, it was signed by US Trade Representative Ambassador Jameson Greer.
Greer praised Yunus and his team, saying they had done a good job in closing the deal. According to the statement, Greer said, “This agreement will further strengthen Bangladesh’s position in America’s trade policy.” The White House has also said that the two countries will also work together to remove non-tariff barriers existing in Bangladesh.
Big relief for textile industry
Bangladesh’s readymade garment industry is the backbone of its economy. More than 80 percent of the country’s total income comes from this sector. About 40 lakh people work in this industry, most of whom are women, who come from villages and poor families. This sector contributes about 10 percent to the country’s GDP.
People associated with the industry say that due to low tariff, Bangladeshi factories will be able to survive in the US market, which is one of the biggest markets for them. Many factories had come into trouble in the last few years. The reasons were increasing production costs, cost of electricity and fuel, fluctuations in currency prices and strict rules for foreign buyers. Earlier this month, US President Donald Trump had also signed a trade agreement with India, in which the tariff was reduced from 50 percent to 18 percent.
Agreement reached before elections
This trade agreement has taken place at a time when the environment in Bangladesh is very delicate. Elections are to be held in the country on Thursday. An interim government has been running there since August 2024, when former Prime Minister Sheikh Hasina left the country and went to India, where she is still. The situation has worsened before the elections. More than 40 people, including women, were injured in clashes between workers of different political parties on Wednesday night. The interim government wants to show before the elections that the country’s economy is stable and the government is trustworthy. Trade policy is being considered an important part in this.