At 20% tariff, Bangladesh’s Yunus hails Trump deal, says ‘future is bright’

Bangladesh’s Chief Adviser Muhammad Yunus hailed tariff negotiations with the US , even though the US President Donald Trump’s administration announced a 20 per cent tariff on Dhaka in the modified reciprocal tariff list.

While the tariff on Bangladesh has been reduced by 17 points, it still stands at 20 per cent, which is more than other nations that have signed trade deals with Washington, DC. In the lengthy statment, Yunus went on to describe the reduction as a “diplomatic victory.”

“We proudly congratulate the Bangladesh tariff negotiators on securing a landmark trade deal with the United States, a decisive diplomatic victory. By reducing the tariff to 20 per cent, 15 points lower than anticipated, our negotiators have demonstrated remarkable strategic skill and unwavering commitment to safeguarding and advancing Bangladesh’s economic interests,” the Bangladeshi interim chief adviser said in a statement.

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Chief Adviser's message after successful tarriff negotiations with US

Dhaka, August 1, 2025: We proudly congratulate the Bangladesh tariff negotiators on securing a landmark trade deal with the United States, a decisive diplomatic victory.
By reducing the tariff to 20%, 17…

— Chief Adviser of the Government of Bangladesh (@ChiefAdviserGoB) August 1, 2025

“They have been working relentlessly since February and navigated successfully through a complex negotiating process involving tariff, non-tariff and national security matters. The agreement they negotiated preserves our comparative advantage, enhances our access to the world’s largest consumer market and safeguards our core national interests,” he added.

Bangladesh’s garment sector breathes a sigh of relief

It is pertinent to note that in the April 2 announcement, Bangladesh was facing a 35 per cent retaliatory tariff. While speaking on the reduction, Khalilur Rahman, the national security adviser of Bangladesh, said that the new tariffs are good news for the country’s garment sector and the millions who depend on it.

“Today, we successfully avoided a potential 35% retaliatory tariff. This is encouraging news for our garment sector and the millions of people whose livelihoods depend on it,” Khalilur said in a statment quoted by The Dhaka Tribune. Soon after the April 2 announcement, the Bangladeshi delegation was led by Commerce Adviser Sk Bashir Uddin, with National Security Adviser Khalilur Rahman engaged in trade talks with Washington, DC.

Basking in the glory, Yunus said that the reduction of duties reflects Bangladesh’s rising strength in the global arena. “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. The future of Bangladesh is undeniably bright. Today’s success stands as a powerful testament to the nation’s resilience and its bold vision for a stronger economy tomorrow,” the Bangladeshi chief advisor concluded.