Bangladesh Balance of Trade

Bangladesh signed a deal Sunday to import 700,000 tonnes of U.S. wheat annually for five years, aiming to ease trade tensions and avert looming U.S. tariffs. The memorandum of understanding, signed in Dhaka with U.S. Wheat Associates, comes ahead of a planned 35% tariff on Bangladeshi exports starting August 1. Officials hope the pact will help reduce Bangladesh’s USD 6 billion trade deficit with the U.S. and improve prospects for key exports like garments. “This step reflects our willingness to build mutual trust and deepen economic cooperation,” said Food Minister Ali Imam Majumder. The deal ensures a steady supply of wheat and is part of a broader effort to soften Washington’s stance. With garment exports at risk, Bangladesh’s Commerce Ministry is in ongoing talks to lower the tariff, warning it could hurt competitiveness. Bangladesh imports about 7 million tonnes of wheat annually, mostly from the Black Sea, with smaller volumes from the U.S. used for blending.