Staff Correspondent:

Commerce Adviser SK Bashir Uddin on Friday said Bangladesh’s adjustment of its reciprocal tariff rate to 20% on products exported to the United States (US) has strengthened its competitiveness in global trade.

“We will be in a competitive position as the US has reduced tariffs on Bangladesh to 20%. So, there is no possibility that our exports to the US will be hampered.

“However, we expected it to be below 20%,” he noted.

The adviser made the remarks in his immediate response, securing a landmark trade deal with the United States.

Additionally, Chief Adviser’s Press Secretary Shafiqul Alam pointed out this reaction in a post on his verified Facebook page.

The US has reduced its tariff rate on goods from Bangladesh to 20%, a significant reduction from the previous 35%, after a final round of intense negotiations in Washington, DC.

The announcement was made by the White House today, after the final round of talks in Washington, DC between Bangladeshi officials and the Office of the United States Trade Representative (USTR), the main body responsible for overseeing US trade policy.