Nobel laureate and Chief Adviser of Bangladesh’s interim government, Muhammad Yunus, has praised Bangladesh’s recent trade agreement with the United States as a “decisive diplomatic victory”, highlighting the country’s ability to secure a 20% tariff rate—lower than the 25% rate imposed on India.
In a statement released via his press wing and on social media, Yunus commended the country’s negotiators for safeguarding Bangladesh’s economic interests, particularly its apparel sector, which is the backbone of the national economy. He noted that the agreed tariff rate keeps Bangladesh in line with competitors like Sri Lanka, Vietnam, Pakistan, and Indonesia, all of which secured rates between 19% and 20% under similar negotiations.
“This achievement not only underscores Bangladesh’s rising strength on the global stage but also opens the door to greater opportunities, accelerated growth, and lasting prosperity,” Yunus said.
Comparing the deal to India’s situation, Yunus pointed out that India received a 25% tariff rate after failing to reach a comprehensive agreement with Washington. The trade rift between the U.S. and India, compounded by New Delhi’s discounted oil deals with Russia and deteriorating ties with the Yunus-led interim regime, has reportedly impacted their bilateral trade momentum.
Bangladesh’s National Security Advisor and lead negotiator, Dr. Khalilur Rahman, explained that the team focused on aligning tariff commitments with domestic capacity, prioritizing the protection of the apparel industry while expanding agricultural imports from the U.S.—a strategic move aimed at supporting Bangladesh’s food security and strengthening goodwill with U.S. farming states.
“Today, we successfully avoided a potential 35% reciprocal tariff. That’s good news for our apparel sector and the millions who depend on it,” Rahman stated. “We’ve preserved our global competitiveness and opened up new opportunities to access the world’s largest consumer market.”
Meanwhile, U.S. President Donald Trump has imposed tariffs of up to 41% on imports from 70 countries, citing trade imbalances and national security concerns. The White House’s approach includes pushing countries to enact domestic policy reforms as part of broader bilateral trade deals.
While U.S. Secretary of State Marco Rubio reaffirmed that India remains a key ally, he acknowledged that strategic partners do not always align completely—particularly on sensitive economic issues.
As global trade dynamics continue to shift under Trump’s aggressive tariff strategy, Bangladesh is positioning itself as a resilient and strategic player, using its diplomatic leverage to protect key industries and deepen ties with major economies like the U.S.