After talks and negotiations, the Trump administration has reduced the US tariffs on Bangladeshi products to 20 percent from the initially proposed 35 percent. The US had initially announced an additional 35 percent tariff on Bangladeshi products, which was supposed to take effect on Aug 1. Until now, Bangladeshi products entering the country had an average tariff rate of 15 percent levied against them. As part of its negotiations to lower the tariff, Bangladesh announced duty exemptions on 626 US products in the national budget. These steps, in addition to a new trade package, were part of the Bangladeshi delegation’s efforts to ease the trade talks.
