Dhaka, Aug 01 (V7N) – The imposition of a 20 percent countervailing duty on Bangladeshi goods by the United States—17 percentage points lower than the earlier forecast—has been hailed as a "diplomatic victory" by Dr. Muhammad Yunus, Chief Advisor to the interim government.

In a message issued by his press wing on Friday (August 1), Dr. Yunus stated that the outcome of the negotiations with the U.S. not only preserved Bangladesh's access to the world's largest consumer market but also protected key national interests.

“We sincerely congratulate the Bangladesh tariff negotiation team for successfully concluding a historic trade agreement with the United States. This is an important diplomatic achievement,” the Chief Advisor said. “The imposition of a 20 percent duty, reduced from the earlier projected 37 percent, reflects the extraordinary strategic skill and unwavering commitment of our negotiators.”

Dr. Yunus noted that the team had been engaged in intense negotiations since February, navigating a complex landscape involving tariffs, non-tariff measures, and national security concerns.

He added, “This agreement ensures that Bangladesh’s comparative advantage remains intact. It also reflects our growing prestige in the international arena and paves the way for enhanced potential, faster economic growth, and long-term prosperity.”

Describing the achievement as a “shining example of national resilience and bold economic vision,” Dr. Yunus said the development was a strong signal of Bangladesh's determination to thrive amid global trade challenges.

The White House announced the revised tariff policy in an official document released on Thursday (July 31), local time. The U.S. administration had earlier proposed a 35 percent duty on Bangladeshi imports via formal communication. Following negotiations, the rate was reduced by 15 percentage points and will take effect immediately.

Bangladesh exports roughly $8.4 billion worth of goods to the United States annually, primarily in the ready-made garment sector. The successful reduction of the countervailing duty is expected to significantly ease trade pressure on the country’s vital export industries.

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