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Bangladesh rushes to finalise US trade deal after India secures lower tariffs

Bangladesh is accelerating talks with the US to finalise a trade agreement after India secured lower tariffs, raising concerns over export competitiveness and transparency.

Published

8 months ago

February 6, 2026

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Bangladesh is moving quickly to finalise a trade agreement with the United States after India concluded a deal with Washington that lowered tariffs on Indian goods to 18 per cent. The development has triggered concern in Dhaka that Bangladesh could lose market share in the US if it fails to secure comparable or better terms.

The US and Bangladesh are expected to sign the agreement on February 9, just three days before the country’s national election scheduled for February 12. The timing and lack of transparency surrounding the deal have drawn criticism from economists, business leaders and political observers.

Bangladesh’s economy is heavily dependent on ready-made garment exports, which account for nearly 90 per cent of its exports to the US. Any tariff disadvantage compared to India could significantly impact export orders and employment in the sector.

Tariff cuts under negotiation

The proposed agreement follows a series of tariff revisions imposed by Washington. In April 2025, the US imposed a steep 37 per cent tariff on Bangladeshi goods. This was reduced to 35 per cent in July and further lowered to 20 per cent in August.

According to reports, the upcoming deal is expected to bring tariffs down further to around 15 per cent. Officials see this as critical to keeping Bangladeshi exports competitive against Indian products in the US market.

Secrecy around negotiations raises concerns

Concerns have intensified due to the confidential nature of the negotiations. In mid-2025, the interim government led by Muhammad Yunus signed a formal non-disclosure agreement with the US, committing to keep tariff and trade discussions confidential.

No draft of the agreement has been shared with the public, parliament or industry stakeholders. A commerce adviser had earlier stated that the deal would not go against national interests and could be made public with US consent.

Policy experts, however, argue that the lack of disclosure prevents meaningful debate on the agreement’s long-term implications.

Conditions reportedly linked to the deal

Media reports suggest that the agreement may include several conditions. These include reducing imports from China, increasing military procurement from the US, and allowing American goods easier access to the Bangladeshi market.

It is also reported that Bangladesh may be required to accept US standards and certifications without additional scrutiny. Inspections on US vehicle imports and parts could reportedly be eased to facilitate smoother entry into the local market.

A senior policy analyst described the process as opaque, noting that signing the agreement just days before elections could bind the hands of the next elected government.

Garment industry left in the dark

Bangladesh exports garments and textiles worth between $7 billion and $8.4 billion annually to the US, accounting for nearly 96 per cent of its total exports to the American market. In comparison, Bangladesh imports around $2 billion worth of goods from the US.

With India and Bangladesh exporting similar apparel products, lower tariffs for India could shift US buyers towards Indian suppliers. Industry leaders warn that this could put millions of jobs at risk in Bangladesh’s garment sector, which employs 4 to 5 million workers, most of them women.

The sector contributes over 80 per cent of Bangladesh’s export earnings and nearly 20 per cent of its GDP.

A senior garment exporters’ association official said the agreement carries major implications and should ideally have been signed after the election to allow broader political and public discussion.

Political timing draws criticism

Economists and analysts have also questioned why an unelected interim administration is finalising a major trade agreement so close to national elections. They argue that responsibility for implementing the deal will fall on the incoming elected government.

A prominent economist criticised the process as lacking transparency and warned that the country could be pushed into long-term commitments without adequate scrutiny or public consent.

Meanwhile, US diplomats have indicated openness to engaging with various political forces in Bangladesh, including Jamaat-e-Islami, which has been banned multiple times in the country’s history.

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Magnitude 7 earthquake strikes Russia’s Kamchatka Peninsula

A magnitude 7 earthquake struck Russia’s Kamchatka Peninsula region on Friday. The initial report placed the earthquake at a depth of 140 kilometres.

Published

2 hours ago

October 16, 2026

APNLive Desk

A magnitude 7 earthquake struck Russia’s Kamchatka Peninsula region on Friday, October 16, according to the European-Mediterranean Seismological Centre (EMSC).

The initial report placed the earthquake at a depth of 140 kilometres (approximately 87 miles). Details about the impact of the earthquake, including any damage or casualties, were not immediately available in the initial report.

Earthquake strikes seismically active Kamchatka region

Russia’s Kamchatka Peninsula is a seismically active region where earthquakes occur because of tectonic activity.

The latest earthquake was reported by the EMSC, which provided the initial magnitude and depth estimates. Further information about the situation on the ground was not available in the initial report.

What is known so far

Location: Kamchatka Peninsula region, Russia
Magnitude: 7.0
Date: Friday, October 16, 2026
Reported depth: 140 kilometres
Casualties and damage: Not provided in the initial report

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S Jaishankar says India is a natural option for Russia amid Europe tensions

External Affairs Minister S Jaishankar said India remained a natural option for Russia as Moscow increasingly turned towards Asia amid strained relations with Europe. He highlighted the continuity of India-Russia ties and their significance for the balance of power in Asia.

Published

2 days ago

October 14, 2026

APNLive Desk

External Affairs Minister S Jaishankar has described India as a natural option for Russia as Moscow increasingly looks towards Asia amid deteriorating relations with Europe. He said India’s longstanding relationship with Russia had remained steady despite significant changes in the international strategic landscape.

Jaishankar made the remarks during a conversation with John Micklethwait, editor-in-chief of the Bloomberg New Economy Forum. He discussed how the Russia-Ukraine war had affected Moscow’s relationship with Europe and contributed to Russia’s growing focus on Asia.

Jaishankar highlights Russia’s shift towards Asia

Jaishankar said Russia’s relationship with Europe had become deeply strained following the Ukraine war. He noted that Russia had historically viewed itself as a European country and placed considerable importance on its relations with Europe and the United States.

However, the conflict had pushed Moscow to look increasingly towards Asia,with much of that shift directed towards China.

The minister said it was in India’s interest, as well as the wider world’s interest, for Russia to maintain multiple relationships in Asia rather than having its options concentrated in one direction.

Against this backdrop, he described India as a natural partner for Russia, pointing to the longstanding nature of the relationship between the two countries.

India-Russia ties remain steady despite global changes

Jaishankar said India and Russia had maintained a consistent relationship over several decades. He emphasised that New Delhi continued to engage with Moscow even as the global order and Russia’s strategic calculations evolved.

According to the minister, India was reassuring Russia that the relationship built over nearly eight decades remained steady despite the changes in Moscow’s relations with Europe and the wider West.

He stressed that India was not passing a value judgment on those changes but was continuing its bilateral engagement with Russia.

Jaishankar said the relationship had benefited both countries and contributed to the balance of power and the broader status quo in Asia.

Why the relationship matters for Asia

Jaishankar’s remarks highlighted India’s position in Russia’s changing regional outlook. As Moscow increasingly turns towards Asia, India continues to maintain its longstanding ties with Russia while navigating a changing international environment.

The minister’s comments underscored the importance he placed on preserving India-Russia ties and ensuring that Russia maintained multiple relationships in Asia.

His assessment came against the backdrop of strained Russia-Europe relations following the war in Ukraine, which has reshaped Moscow’s engagement with Western countries and increased its focus on Asian partners.

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Putin praises PM Modi, says he has very good ideas on Ukraine war

Russian President Vladimir Putin has praised Prime Minister Narendra Modi for repeatedly raising the need to end the Ukraine war, describing his ideas for a settlement as “very good”.

Published

2 weeks ago

October 2, 2026

APNLive Desk

Russian President Vladimir Putin has praised Prime Minister Narendra Modi for his continued efforts to promote an end to the Russia-Ukraine war, saying the Indian leader has “very good ideas” aimed at finding a mutually acceptable solution.

Putin made the remarks while addressing the Valdai Forum of international Russia experts, where he spoke about Modi’s repeated efforts to raise the issue of ending the conflict.

What Putin said about PM Modi

Putin said Modi has continued to raise the question of ending the conflict despite the close and friendly relationship between India and Russia.

According to Putin, the Prime Minister has shown a strong interest in finding a solution and has ideas that could help identify mutually acceptable ways to resolve the conflict.

Putin also described India’s position as neutral while highlighting Modi’s interest in bringing the conflict to an end through peaceful means.

The Russian president expressed gratitude to Modi for his ideas and his desire to see the conflict end as soon as possible.

Modi’s position on the Ukraine war

PM Modi has repeatedly called for dialogue and diplomacy to resolve conflicts, including during his meetings with Putin.

During their September 11 meeting in New Delhi, Modi reiterated that dialogue and diplomacy are the way forward for resolving conflicts.

Modi had also told Putin during their meeting on the sidelines of the Shanghai Cooperation Organisation summit in Bishkek that the situation needed to move from “endless war” towards an end to the war.

India has consistently maintained that conflicts should be addressed through dialogue and peaceful means, with Modi previously describing the present period as not being an era of war.

The Russia-Ukraine conflict began in February 2022 and has continued despite repeated diplomatic efforts to seek a resolution.