Trump's week in review: EPA deregulation, ICE withdrawing from Minnesota, voter ID law
4. Bangladesh-US trade agreement announced
The Trump administration announced on Monday that it had reached what it described as “an Agreement on Reciprocal Trade” with the People’s Republic of Bangladesh.
As a result of the agreement, the U.S. will reduce its tariffs on the Southeast Asian nation, with a zero reciprocal tariff rate on certain apparel and textile goods.
For its part, Bangladesh will bestow preferential market access for goods from the U.S., and also strengthen its enforcement of globally recognized labor rights and regulations.
“The Agreement will provide U.S. and Bangladeshi exporters unprecedented access to each other’s respective markets,” stated the administration in a joint statement.
“The Agreement will build upon our longstanding economic relationship, including the U.S.-Bangladesh Trade and Investment Cooperation Forum Agreement (TICFA), signed in 2013.”
