Bangladesh’s interim head, Muhammad Yunus, has written to U.S. President Donald Trump requesting a three-month delay on a 37% tariff on imports, emphasizing efforts to boost imports from the U.S.
Bangladesh's interim head Muhammad Yunus has written to U.S. President Donald Trump requesting a three-month pause on a 37% tariff on imports from Bangladesh, citing efforts to boost imports from the U.S., his press office said on Monday.
Bangladeshi exporters, especially in the garment sector, are bracing for the impact of the tariff.
In the letter, Yunus — a Nobel laureate who took charge of the interim government in August after prime minister Sheikh Hasina was overthrown — outlined steps Bangladesh has already taken to strengthen bilateral trade.
“We are the first country to take such a pro-active initiative,” Yunus wrote, referring to the February visit of his representative, Khalilur Rahman, to Washington to begin trade discussions. Since then, officials from both countries have been working to identify specific actions that can quickly boost American exports.
The letter notes that Bangladesh was the first South Asian country to sign a multi-year agreement to import U.S. liquefied natural gas, and is working to expand trade in agriculture, energy and technology.
According to the letter, the government is now focusing on increasing imports of U.S. agricultural produce including cotton, wheat, corn and soybeans.
To support this, Bangladesh is finalising a bonded warehousing facility that will allow duty-free access for U.S. cotton, ensuring faster delivery to local manufacturers.
Yunus said Bangladesh maintains the lowest tariffs on U.S. exports in South Asia and plans further cuts.
He also listed reforms under way to ease non-tariff barriers: “We are eliminating certain testing requirements, rationalizing packaging, labelling and certification rules, and simplifying customs procedures and standards.”
Yunus said Bangladesh’s move to approve the use of billionaire Trump aide Elon Musk's Starlink satellite internet network was a signal of readiness to welcome more U.S. investment in high-tech sectors including civil aviation and defence.
“Bangladesh will take all necessary actions to fully support your trade agenda,” Yunus told Trump.
Traders placed more than $500 million in oil bets minutes before Donald Trump announced a delay to planned strikes on Iran, ...
Pakistan has offered to host talks between the U.S. and Iran to end the Gulf conflict, as tensions remain high des...
Hezbollah has pledged to defend the region against Israeli forces, warning it will resist any move to occupy southern Lebanon, as Israel sets out p...
Lebanon has expelled Iran’s ambassador and declared him persona non grata, ordering his departure by 29 March, as tensions surge across the M...
The Iranian Foreign Minister Abbas Araghchi has stated Tehran’s stand on the latest developments in the I...
Traders placed more than $500 million in oil bets minutes before Donald Trump announced a delay to planned strikes on Iran, data shows, shortly before prices plunged.
Pakistan has offered to host talks between the U.S. and Iran to end the Gulf conflict, as tensions remain high despite reports of possible diplomacy and continued military strikes across the region.
Hezbollah has pledged to defend the region against Israeli forces, warning it will resist any move to occupy southern Lebanon, as Israel sets out plans to establish a buffer zone following its latest invasion.
Lebanon has expelled Iran’s ambassador and declared him persona non grata, ordering his departure by 29 March, as tensions surge across the Middle East following intensifying cross-border violence.
The pilot and co-pilot of an Air Canada Express regional jet were killed after it collided with a fire truck while landing at New York's LaGuardia airport late on Sunday, in an incident that closed the airport, authorities and U.S. media said.
Trump says U.S. found “major points of agreement” with Iran and has paused strikes on Iranian power plants, but Tehran denies any direct talks or negotiations, contradicting U.S. claims - latest on Middle East conflict.
Pakistan has offered to host talks between the U.S. and Iran to bring an end to the conflict, while Lebanon has ordered the Iranian Ambassador to leave the country. Meanwhile, oil prices continue rising as the fallout from the Middle East conflict continues.
Violent clashes broke out between police and opposition protesters in Tirana on Sunday (22 March) as demonstrators were demanding the resignation of the Albanian government following corruption allegations against the deputy prime minister.
FinaFinal results from Slovenia’s parliamentary elections indicate a near tie between the Slovenian Democratic Party (SDS) and the liberal Freedom Movement Slovenia (GS), leaving neither side with a clear path to power.
Eurozone private sector growth almost stalled this month, a key survey showed on Tuesday, adding to evidence that the bloc is already feeling economic fallout from the U.S. and Israeli war with Iran, with inflation rising and growth slowing.
China is raising domestic petrol and diesel prices under temporary measures to manage a sharp surge in global oil costs, aiming to support fuel suppliers while maintaining market stability during a period of heightened volatility.
Russia launched drones and missiles overnight on Tuesday at Ukraine, killing at least three people, damaging houses and triggering fires, Ukrainian officials said.
British Prime Minister Sir Keir Starmer said on Monday (23 March) that Britain must plan for the possibility that the Iran war could continue for some time, and added that he had no "meaningful concerns" about energy supply.
Australia and the European Union signed a trade deal on Tuesday that was eight years in the making, removing tariffs for almost all European goods and for nearly all exports of Australian critical minerals.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment