US cuts tariffs on Bangladesh to 20% after talks

The United States has slashed its tariff rate on goods from Bangladesh to 20 percent, a significant reduction from the previous 35 percent, after a final round of intense negotiations in Washington.

The White House confirmed the new rate on Friday, a move expected to provide a substantial boost to Bangladeshi exports, particularly in the crucial garment sector. The breakthrough came after high-level discussions between Bangladeshi officials and the Office of the United States Trade Representative, the main body overseeing US trade policy.

The deal for Dhaka was secured just hours before a midnight deadline set by President Donald Trump and stands out against a broader protectionist trade policy. 

In a separate announcement, the White House said Trump would maintain a minimum global tariff of 10 percent, while imports from countries holding trade surpluses with the US would face duties of 15 percent or higher.

The successful negotiation for Bangladesh presents a stark contrast to the administration's treatment of other key trading partners, notably India. 

Washington has threatened New Delhi with tariffs of 25 percent, a figure that would single it out more severely than most major economies, with the exception of Canada, which was hit with 35 percent tariff rate