Bangladesh have maintained competitive position in global market: Khalilur Rahman

National Security Adviser Dr Khalilur Rahman has announced a significant breakthrough in trade negotiations with the United States, stating that Bangladesh has successfully avoided a potential 35% retaliatory tariff. This development is a major boost for the country’s garment sector and millions of workers.

The United States on Friday announced a revised tariff rate of 20% on products imported from Bangladesh, down from the previously threatened 35%. This announcement comes as part of a broader executive order issued by US President Donald Trump, imposing new tariffs of up to 41% on imports from 70 countries.

Speaking on the announcement, Dr Rahman said, “We have carefully managed every step of the negotiation to align with our national interests and capabilities. Protecting our garment industry remained a top priority. At the same time, we committed to increasing imports of US agricultural products, which will enhance our food security and strengthen ties with America’s farming states.”

The executive order goes beyond tariff adjustments, encompassing reforms in domestic policies, trade balance, non-tariff barriers, and national security concerns. Countries involved in the negotiations had to offer clear commitments to purchase American goods, aiming to reduce the US trade deficit.

Under the new tariff scheme, Bangladesh’s 20% tariff rate aligns it competitively with other garment-exporting nations such as Sri Lanka, Vietnam, Pakistan, and Indonesia. In contrast, India faces a higher tariff of 25% after failing to secure a comprehensive agreement.

Dr Rahman emphasized that maintaining Bangladesh’s position in the global marketplace remains crucial, noting that these developments open new opportunities for access to the world’s largest consumer market.