Bangladesh has signed a trade agreement with the United States, securing a reduced 19% tariff rate for its textiles and garments, which can now use US materials for zero tariffs. In return, Bangladesh will provide significant market access for US industrial and agricultural goods, easing non-tariff barriers and recognizing US safety standards. The deal follows nine months of negotiations and aims to enhance trade relations, benefiting both nations’ economies. Bangladesh’s garments sector, crucial for its economy, can now compete effectively with India, which has a similar tariff rate.
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