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Free Malaysia Today
22-07-2025
- Business
- Free Malaysia Today
Bangladesh signs US wheat-import deal in bid to curb tariff pressure
Bangladesh signed a deal to import 700,000 tonnes of wheat annually from the US over the next five years. (EPA Images pic) DHAKA : Bangladesh signed a deal on Sunday to import 700,000 tonnes of wheat annually from the US over the next five years, in a move aimed at securing tariff relief from the Trump administration amid growing trade tensions, officials said. The agreement – formalised through a memorandum of understanding inked in Dhaka between the food ministry and trade group US Wheat Associates – comes at a critical moment, with Washington set to impose a 35% tariff on Bangladeshi exports from Aug 1. Officials in Dhaka hope the pact will help narrow Bangladesh's US$6 billion trade deficit with the US and pave the way for more-favourable treatment of key export items, particularly garments, which dominate shipments to the US. Bangladesh's de facto food minister, Ali Imam Majumder, said at the signing ceremony that the agreement would not only ensure a steady supply of high-quality wheat at competitive prices but also strengthen trade ties between the two nations. 'This step reflects our willingness to build mutual trust and deepen economic cooperation with the US,' he said. The US tariff hike has rattled Bangladesh's export sector, especially the ready-made garments industry, which fears losing competitiveness in one of its largest markets. The wheat initiative is widely seen as part of a broader diplomatic and trade strategy to soften Washington's stance and open the door for further negotiations. Officials from the commerce ministry said talks are ongoing with US counterparts in an effort to lower the duty, arguing that such high tariffs could significantly undermine Bangladesh's competitiveness in the American market. Bangladesh imports around 7 million tonnes of wheat each year, with the bulk sourced from the Black Sea region due to its lower cost. Smaller volumes of higher-quality wheat, including some from the US, are also imported for blending.
Times of Oman
21-07-2025
- Business
- Times of Oman
Bangladesh signs deal with US to import 7,00,000 tonnes of wheat annually ahead of tariff talks
Dhaka: A Memorandum of Understanding (MoU) was signed between Bangladesh and the United States on Sunday to import 7,00,000 tonnes of high-quality wheat annually from the United States at competitive prices for the next five years. The deal was signed ahead of third-round tariff talks between Bangladesh and the US in the last week of July. The second round of talks were inconclusive after the US imposed conditions to increase certain security cooperation to sign a non-disclosure tariff deal. The US has already announced that it will continue joint military exercises with Bangladesh. The MoU to import wheat was signed by Md Abul Hasanat Humayun Kabir, Director General of the Food Department, on behalf of the Bangladesh government, and Joseph K. Sower, Vice President of the US Wheat Association, on behalf of the United States, in the presence of Bangladesh's Food Adviser, Ali Imam Majumdar. Speaking at the event, Food Adviser Ali Imam Majumder said that this MoU will create opportunities to build trust and create broader areas of mutual trade cooperation between Bangladesh and the United States, and the people of both countries will benefit. "This MoU was signed between Bangladesh and the United States to ensure the overall food security, nutritional quality, and food supply of the country", the Bangladesh interim government said in a statement. The US, on the same day, announced that it will continue joint military exercises with Bangladesh. "The Armed Forces of Bangladesh and the United States military will continue their longstanding partnership this summer through three joint exercises and the delivery of a new capability that will reinforce our common security interests. These efforts help to make the United States and Bangladesh stronger, and the region safer," the US Embassy in Dhaka said in a statement. "For the fourth year in a row, the Bangladesh Army and U.S. Army Pacific will conduct Exercise Tiger Lightning. Through realistic training, our soldiers will develop readiness for counterterrorism, peacekeeping, jungle operations, medical evacuations and countering improvised explosive devices (IEDs)", it added. "Tiger Shark (part of the Flash Bengal series) is a joint training exercise where our two countries' Special Forces practice combat tasks. The exercise, ongoing since 2009, will feature patrol boat handling and small arms marksmanship that will strengthen Bangladesh's Special Warfare Diving and Salvage and the Para Commando Brigade ability to respond to crises. One of the highlights of this combined exercise is the use of U.S. equipment by both countries", the statement said. "Exercise Pacific Angel: This will be the fourth iteration of Pacific Angel with Bangladesh. It will highlight one of the hallmarks of our defense relationship, our C-130 fleets, which are critical in disaster response airdrops and air mobility operations. The exercise also focuses on Search and Rescue (SAR) and Aeromedical operations further developing Bangladesh's ability to respond to humanitarian disasters", the statement said. "RQ-21 Program Launch: The United States is working with Bangladesh's Army and Navy to develop an Unmanned Aerial System (UAS) capability for Bangladesh. A Bangladesh Regiment comprised of Army and Navy personnel will operate the new RQ-21 Blackjack system. This joint effort will enable Bangladesh to monitor its maritime domain, secure its borders, and conduct peacekeeping missions", the statement said. On July 11, the three-day second-round tariff talks between Bangladesh and the United States ended without conclusion. Earlier, two days ahead of the July 9 deadline, US President Donald Trump issued a letter to Bangladesh, imposing a 35 per cent tariff. According to the letter, the tariff will take effect on August 1.
The Sun
20-07-2025
- Business
- The Sun
Bangladesh secures US wheat deal to ease tariff pressure
DHAKA: Bangladesh has finalised an agreement to import 700,000 tonnes of wheat annually from the United States for the next five years, a strategic move to ease trade tensions ahead of impending US tariffs. The deal, formalised through a memorandum of understanding between Bangladesh's Ministry of Food and US Wheat Associates, seeks to stabilise trade relations as Washington prepares to impose a 35% tariff on Bangladeshi exports starting August 1. Officials in Dhaka view the pact as a crucial step to narrow Bangladesh's $6 billion trade deficit with the US and secure better terms for key exports, particularly garments, which dominate shipments to the American market. 'This agreement ensures a steady supply of high-quality wheat at competitive prices while reinforcing economic cooperation,' said Ali Imam Majumder, Bangladesh's de facto food minister, during the signing ceremony. The looming US tariff hike has raised concerns among Bangladeshi exporters, especially in the ready-made garments sector, which fears losing market share in one of its largest destinations. The wheat deal is seen as part of a broader diplomatic effort to soften Washington's stance and create room for further negotiations. Commerce Ministry officials confirmed ongoing discussions with US counterparts to lower the proposed duty, warning that high tariffs could severely impact Bangladesh's competitiveness. Currently, Bangladesh imports around 7 million tonnes of wheat yearly, primarily from the Black Sea region, supplemented by smaller quantities of premium-grade US wheat for blending. - Reuters
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Business Standard
20-07-2025
- Business
- Business Standard
Bangladesh signs US wheat-import deal in bid to curb tariff pressure
Bangladesh signed a deal on Sunday to import 700,000 tonnes of wheat annually from the United States over the next five years, in a move aimed at securing tariff relief from the Trump administration amid growing trade tensions, officials said. The agreement formalised through a memorandum of understanding inked in Dhaka between the Ministry of Food and trade group US Wheat Associates comes at a critical moment, with Washington set to impose a 35 per cent tariff on Bangladeshi exports from August 1. Officials in Dhaka hope the pact will help narrow Bangladesh $6 billion trade deficit with the US and pave the way for more-favourable treatment of key export items, particularly garments, which dominate shipments to the United States. Bangladesh's de facto food minister, Ali Imam Majumder, said at the signing ceremony that the agreement would not only ensure a steady supply of high-quality wheat at competitive prices but also strengthen trade ties between the two nations. This step reflects our willingness to build mutual trust and deepen economic cooperation with the United States, he said. The wheat initiative is widely seen as part of a broader diplomatic and trade strategy to soften Washington stance and open the door for further negotiations. Officials from the Ministry of Commerce said talks are ongoing with US counterparts in an effort to lower the duty, arguing that such high tariffs could significantly undermine Bangladesh competitiveness in the American market. Bangladesh imports around 7 million tonnes of wheat each year, with the bulk sourced from the Black Sea region due to its lower cost. Smaller volumes of higher-quality wheat, including some from the United States, are also imported for blending.
Malay Mail
20-07-2025
- Business
- Malay Mail
Bangladesh signs wheat deal with US to secure tariff relief amid trade tensions
DHAKA, July 20 — Bangladesh signed a deal on Sunday to import 700,000 tonnes of wheat annually from the United States over the next five years, in a move aimed at securing tariff relief from the Trump administration amid growing trade tensions, officials said. The agreement — formalised through a memorandum of understanding inked in Dhaka between the Ministry of Food and trade group US Wheat Associates — comes at a critical moment, with Washington set to impose a 35 per cent tariff on Bangladeshi exports from August 1. Officials in Dhaka hope the pact will help narrow Bangladesh's US$6 billion trade deficit with the US and pave the way for more-favourable treatment of key export items, particularly garments, which dominate shipments to the United States. Bangladesh's de facto food minister, Ali Imam Majumder, said at the signing ceremony that the agreement would not only ensure a steady supply of high-quality wheat at competitive prices but also strengthen trade ties between the two nations. 'This step reflects our willingness to build mutual trust and deepen economic cooperation with the United States,' he said. The US tariff hike has rattled Bangladesh's export sector, especially the ready-made garments industry, which fears losing competitiveness in one of its largest markets. The wheat initiative is widely seen as part of a broader diplomatic and trade strategy to soften Washington's stance and open the door for further negotiations. Officials from the Ministry of Commerce said talks are ongoing with US counterparts in an effort to lower the duty, arguing that such high tariffs could significantly undermine Bangladesh's competitiveness in the American market. Bangladesh imports around 7 million tonnes of wheat each year, with the bulk sourced from the Black Sea region due to its lower cost. Smaller volumes of higher-quality wheat, including some from the United States, are also imported for blending. — Reuters
