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Muhammad Yunus issued a press release and appreciated the deal with the US.
Bangladesh Chief Advisor Muhammad Yunus said that India has failed to trade deal with the US. He said that due to lack of compromise, India will now have to pay 25% tariffs, which is more than Bangladesh.
The US has imposed 20% tariff on Bangladesh. Earlier in April, the US imposed 37% tariff on Bangladesh. That is, Bangladesh managed to reduce 17% tariffs from America in 4 months.
Yunus credited this to the officials talking to the US for their tariffs. He described it as a diplomatic victory and said that this will strengthen the textile industry of Bangladesh.
Bangladesh’s textile industry benefits
Yunus said in a statement posted on X- Bangladesh’s tariff rate is equivalent to its textile industry competitors such as Sri Lanka, Vietnam, Pakistan and Indonesia, which was the tariff rate between 19% to 20%.
Yunus said that due to a similar tariff, there will be no effect on the textile industry of Bangladesh.
At the same time, Dr. Khalilur Rahman, National Security Advisor and Prominent Conversation of Bangladesh, said, ‘We have been successfully survived by giving more tariffs. This is our Textile industry And there is good news for millions of people dependent on it. We have also maintained our global role and have opened new opportunities to reach the world’s largest consumer market.
Rahman further said, ‘We interacted with American officials keeping in mind the interests of our country. This was our priority.
Textile industry is the mainstay of the country’s economy
Bangladesh’s textile industry is the mainstay of the country’s economy. Bangladesh’s textile industry is the world’s second largest readymade garment (RMG) exporting industry after China.
The textile industry contributes over 11% of the country’s GDP and more than 80% of the total export (export) income. More than 40 lakh people work in this industry, most of which are women.
Bangladesh, after China, is the second largest textile exporting country in the world.
Tension between India and Bangladesh
The relations between India and Bangladesh began to deteriorate from August 2024. The biggest reason for this is the removal of Sheikh Hasina’s government in Bangladesh and the arrival of Muhammad Yunus’s interim government. This change has affected trade and diplomacy between the two countries.
She has taken refuge in India after Hasina’s withdrawal from power in August 2024. Bangladesh is demanding their extradition, but India did not accept it. This increased anti -India sentiments in Bangladesh. Yunus and Narendra Modi met in Bangkok in April 2025, but no major agreement could be reached.
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