DHAKA (Reuters) -Bangladesh has ordered 25 aircraft from Boeing and ramped up imports of key American goods in an effort to defuse trade tensions and bring down the steep tariffs imposed by the Trump administration, a senior official said on Sunday.
The moves are part of a broader strategy to narrow a $6 billion U.S. trade deficit with Bangladesh and avoid a looming 35% tariff hike that has rattled the country’s export sector, especially the garments industry which risks losing competitiveness in one of its largest markets.
“We need new aircraft urgently, possibly within the next couple of years,” Commerce Secretary Mahbubur Rahman told reporters. “Initially, it was 14 planes — now it’s 25,” he said, referring to an earlier plan to purchase aircraft from the U.S.-based manufacturer.
Alongside the aircraft deal, Bangladesh is boosting imports of wheat, soybean oil and cotton from the United States. A new agreement signed earlier this month will see the country import 700,000 tonnes of U.S. wheat annually over the next five years.
Officials hope that these steps will help improve trade relations with Washington and soften the impact of the Trump administration’s tariff measures.
(Reporting by Ruma Paul; editing by Clelia Oziel)
Comments