Bangladesh Set for ‘Secret’ US Tariff Deal Just Days Before National Elections

Bangladesh’s interim government, led by Chief Adviser Muhammad Yunus, is poised to sign a confidential trade and tariff agreement with the United States on February 9, just three days before the country’s pivotal national parliamentary elections on February 12.

The deal, widely described in local and international reports as “secret” because of strict non-disclosure terms, is being pursued as Dhaka seeks to secure lower US tariffs on its exports, especially in the vital ready-made garment sector that drives much of the nation’s economy and employment.

US tariffs on Bangladeshi goods were initially raised as high as 37% under the Trump administration in April 2025 before being negotiated down in stages to around 20% by August. The forthcoming agreement is widely expected to bring this figure lower, potentially to 15%, aligning Bangladesh’s rates more closely with or better than those recently achieved by India in a US trade pact that reduced Indian export tariffs to 18%.

The push appears fueled by fears that remaining at higher tariff levels could cost Bangladesh valuable market share in the United States, with orders and jobs shifting to Indian competitors. Commerce Secretary Mahbubur Rahman has confirmed the February 9 signing date in Washington, according to reports from Bangladeshi outlets including Prothom Alo and The Daily Sun.

As of now, no official terms have been made public and the agreement has yet to be signed. Developments could still shift in the coming days depending on last-minute changes or the outcome of the elections, which represent Bangladesh’s first national vote since the major political upheaval of 2024.