Bangladesh rushes to seal 'secret' trade deal with US ahead of polls

Dhaka: Just days before the national election on February 12, the Dhaka is rushing to sign a Bangladesh-US trade agreement on February 9.

Bangladesh commerce secretary Mahbubur Rahman had earlier reportedly confirmed the date of signing. However, the deal is facing criticism because of secrecy surrounding its terms.

What is the deal about?

The Bangladesh-US deal comes after Washington has put Dhaka with a steep 37 per cent tariff in April 2025. Later, in July the tariffs were negotiated down to 35 per cent. Bangladesh currently faces 20 per cent tariffs after it was lowered in August. 

And expectation are there that the upcoming trade deal will reduce the tariffs to 15 per cent.

Who is pushing the deal?

The main concern is that the deal is finalized by the unelected interim administration headed by Muhammad Yunus, that is raising sharp questions about mandate and intent.

The interim Yunus administration will end  after the election, yet it is moving ahead with a trade agreement.

The deal timing is also a highlight as it is set to be finalised just after India-US sealed a deal under which the tariffs on Indian imports were cut down to 18 per cent.

However, the secrecy of the deal is a concern because it will shape the country's economy for years, if not decades.

What about previous deal?

In mid-2025, the interim government led by Muhammad Yunus signed a formal Non-Disclosure Agreement with the US, committing to keep all tariff and trade negotiations confidential.

No details of the draft of the agreement was shared with the public, the parliament or key industry stakeholders.

The Commerce Adviser, Sk Bashir Uddin in August last year, said, "There will be nothing in the agreement that goes against the country's interests. Subject to US consent, it will also be made public."