Lowered Tariff a Major Diplomatic Victory: Chief Adviser

Chief Adviser of the interim government, Professor Dr. Muhammad Yunus, has called the successful completion of a "historic trade agreement" with the United States a "significant diplomatic victory" for Bangladesh. He extended his heartfelt congratulations to Bangladesh's tariff negotiating team.

Chief Adviser's Press Secretary Shafiqul Alam published this immediate reaction in a post on his verified Facebook page on Friday morning (August 1).

The Chief Adviser stated that bringing the tariff rate down to 20%—17 percentage points lower than the expected rate—is a "shining example of our negotiating team’s remarkable strategic skill and unwavering commitment to protecting the nation's economic interests."

He noted that the team had worked tirelessly since February, successfully navigating complex discussions on tariffs, non-tariff barriers, and national security. "This agreement preserves Bangladesh's comparative advantage, enhances our access to the world’s largest consumer market, and firmly secures our national interests," he said.

The Chief Adviser added that this success is not only a recognition of Bangladesh's growing power on the international stage but also opens doors to greater opportunities, faster development, and long-term prosperity. "Bangladesh's future is undoubtedly bright," he commented.

He concluded by saying that today's success is a reflection of the nation's resolve and a bold vision for a strong economic future.

The announcement comes after the U.S. imposed a 20% tariff on goods imported from Bangladesh, a 15% reduction from the previous 35%. This new rate will be effective from Friday, August 1, U.S. time.

According to a report by the British news agency Reuters, the new tariff amount was mentioned in a White House announcement. The list includes several other countries besides Bangladesh.

Under the new White House declaration, Washington has also imposed tariffs on Pakistan (19%), Afghanistan (15%), India (25%), Brazil (10%), Indonesia (19%), Malaysia (19%), Myanmar (40%), the Philippines (19%), Sri Lanka (20%), and Vietnam (20%).