Bangladesh signs wheat deal with U.S. to ease tariff pressure

AWANI

Bangladesh has signed a five-year agreement to import 700,000 tonnes of wheat annually from the U.S. ahead of a 35% U.S. tariff on its exports starting August 1.

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00:00Bangladesh has signed a five-year deal to import 700,000 tons of wheat annually from the U.S.

00:06This agreement comes as Washington plans to impose a 35% tariff on Bangladeshi exports starting August 1.

00:17Officials in Dhaka hope the deal will help reduce Bangladesh's US$6 billion trade deficit with the U.S.

00:23and improve conditions for key exports, especially garments which dominate shipments to the U.S.

00:30The tariff hike has unsettled Bangladesh's ready-made garment sector, which fears losing competitiveness in its largest market.

00:37The wheat import initiative is part of a broader diplomatic effort to ease tensions and open further trade negotiations.

00:44Bangladesh's Ministry of Commerce officials said talks are still ongoing with U.S.

00:48counterparts to lower the tariff, warning that high duties could harm Bangladesh's market position.

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