US Cuts Tariffs on Bangladesh Goods, Exempts Some Apparel

The US is moving to reduce its so-called reciprocal tariff on goods from Bangladesh and offering a new exemption for textile products, the White House said Monday, in the latest adjustment for the South Asian country.

President Donald Trump will lower the country’s overall reciprocal tariff to 19%, after previously slashing the rate from 37% to 20% last year. But the deal also includes a mechanism that allows certain textile merchandise to receive a full exemption from the levies, providing a break to Bangladesh’s apparel industry.