Bangladesh Secures Key U.S. Tariff Reduction for Textiles and Apparel
Bangladesh clinched a deal with the U.S. to lower tariffs on textiles and garments. The agreement guarantees zero tariffs for certain goods made with U.S. materials, strengthening Bangladesh's vital clothing sector. This follows last year's tariff reduction and comes amid shifting regional trade alliances.
Bangladesh has successfully negotiated a significant reduction in U.S. tariffs for its textile and garment exports. Under a newly signed trade agreement, certain goods produced with U.S. materials will enjoy zero tariffs, according to interim leader Muhammad Yunus.
The protracted negotiations, which lasted nine months, reflect the growing importance of Bangladesh's readymade garments sector—responsible for over 80% of the nation’s export earnings and a critical component of the country’s economy. This sector employs around 4 million workers and contributes about 10% to Bangladesh's GDP.
In related developments, the U.S. recently secured a trade deal with India, cutting tariffs and altering oil trade policies. As Bangladesh prepares for upcoming elections, the country remains under interim governance following the former Prime Minister's flight to India.
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