According to multiple reports, the interim Bangladesh government, led by Nobel laureate Muhammad Yunus, is preparing to sign the pact with Washington on February 9, only three days before voters head to the polls on February 12.
Why the Rush?
The urgency reflects a deep economic concern. After New Delhi secured a landmark trade deal that slashed US tariffs on its goods to 18%, Dhaka fears losing crucial market ground in the United States - its largest export destination, especially for ready-made garments.Bangladesh’s economy heavily depends on exports, with garments alone accounting for the lion’s share of its shipments to the US. With India now enjoying a lower tariff regime, Bangladeshi manufacturers worry their products could be rendered less competitive unless they obtain comparable or better terms under a similar deal with the US.
Shrouded in Secrecy
What has drawn the sharpest criticism is the non-transparent nature of the negotiations. Reports suggest that Dhaka and Washington signed a non-disclosure agreement in 2025, preventing public scrutiny of the trade talks and the contents of the pact.Critics including economists and business leaders argue that such opacity is especially problematic given the timing. An envoy from the business community highlighted concerns that Bangladesh’s export sector, especially its garment industry, may be disadvantaged if the deal reduces reciprocal tariffs without adequate safeguards or consultation.
Political and Economic Controversy
The decision to push the agreement through just before elections has stirred additional debate. The interim government’s lack of an electoral mandate has made many in Bangladesh uneasy about commitments that could bind the next elected administration.Economists warn that, by signing before the election, the outgoing setup may inadvertently limit the incoming government’s policy options essentially tying future leaders to terms negotiated without broad national consensus.
Regional Economic Ripples
From a regional perspective, this development comes on the heels of India’s tariff win with the US — a deal widely seen as strengthening New Delhi’s access to one of the biggest global markets.Bangladesh’s efforts, by contrast, could reshape its trade dynamics with the United States at a pivotal moment. However, the lack of clarity on tariff structures, market access terms, and sectoral commitments has left many stakeholders uneasy about potential long-term implications.
Looking Forward
As the electorate prepares to vote and political control changes hands, this shadow trade pact could have enduring effects on Bangladesh’s economic strategy and its position in global textile and manufacturing markets. Whether it offers a lifeline to exporters facing intensifying competition, or becomes a contentious legacy of a transitional government, remains a subject of intense debate.For now, the spotlight is on February 9, when Bangladesh and the United States are expected to finalize the agreement - setting the stage for how the nation navigates both its post-LDC economic future and evolving regional trade realities.