Bangladesh-U.S. Wheat Deal: A Trade Gamechanger
Bangladesh has agreed to annually import 700,000 tonnes of wheat from the U.S. amid rising trade tensions. The deal aims to secure tariff relief as the U.S. plans a 35% tariff on Bangladeshi exports. This agreement is part of broader efforts to strengthen trade ties and negotiate lower duties.
- Country:
- Bangladesh
In a significant development, Bangladesh has signed a deal to import 700,000 tonnes of wheat each year from the United States. This move is aimed at securing tariff relief amidst escalating trade tensions, as confirmed by officials on Sunday.
The agreement, formalized through a memorandum of understanding in Dhaka with the U.S. Wheat Associates, comes ahead of a planned 35% tariff imposition on Bangladeshi exports by the Trump administration. Officials in Dhaka hope this deal will help reduce the $6 billion trade deficit with the U.S. and lead to more favorable trade terms, especially for garments.
The readiness of the Bangladeshi government to import American wheat is seen as a strategic effort to bolster diplomatic relations and prompt further negotiations over U.S. tariffs. Bangladesh currently imports 7 million tonnes of wheat annually, mainly from the Black Sea region, due to cost considerations.
(With inputs from agencies.)
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