Bangladesh and U.S. Agree on Framework for a New Agreement on Reciprocal Trade

The Trump Administration has published a Joint Statement on a Framework for a United States – Bangladesh Agreement on Reciprocal Trade, which includes a reduction in the reciprocal tariff rate on goods from Bangladesh to 19%. A 0% rate will also be provided for certain goods, including a certain volume of textile and apparel goods imports from Bangladesh that is determined in relation to the quantity of exports of textiles, e.g., U.S. produced cotton and man-made fiber textile inputs, from t…