Latest news with #CommerceSecretary
CNA
3 days ago
- Business
- CNA
US expects to result of probe into chip imports in two weeks
TURNBERRY, Scotland :The Trump administration will announce the result of a national security probe into imports of semiconductors in two weeks, Commerce Secretary Howard Lutnick said on Sunday, without providing details. Lutnick told reporters after a meeting between U.S. President Donald Trump and European Commission President Ursula von der Leyen that the investigation - which is expected to result in tariffs on chips imports - was one of the "key reasons" the EU sought to negotiate a broader trade agreement that would "resolve all things at one time." Trump said many companies would be investing in semiconductor manufacturing in the United States, including some from Taiwan and other places, to avoid getting hit by new tariffs.
Arab News
3 days ago
- Business
- Arab News
Bangladesh orders 25 Boeing planes as part of push to ease US tariffs
DHAKA: 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 US trade deficit with Bangladesh and avoid a looming 35 percent 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 US-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 tons of US 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.
Yahoo
3 days ago
- Business
- Yahoo
Bangladesh orders 25 Boeing planes as part of push to ease US tariffs
DHAKA (Reuters) -Bangladesh has ordered 25 aircraft from Boeing (BA) 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. For rolling updates on tariffs, check out our liveblog > "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. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
3 days ago
- Business
- Yahoo
Bangladesh orders 25 Boeing planes as part of push to ease US tariffs
DHAKA (Reuters) -Bangladesh has ordered 25 aircraft from Boeing (BA) 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. For rolling updates on tariffs, check out our liveblog > "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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
3 days ago
- Business
- Reuters
Bangladesh orders 25 Boeing planes as part of push to ease US tariffs
DHAKA, July 27 (Reuters) - Bangladesh has ordered 25 aircraft from Boeing (BA.N), opens new tab 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.
