Bangladesh’s interim government is set to sign a new trade agreement with the United States on Monday, just three days before the national election. Commerce adviser Sheikh Bashiruddin said at a press conference on Sunday that the deal could reduce the recently imposed additional 20 percent trade tariff. He noted that discussions were ongoing and that the government aimed to achieve zero tariffs on garments, the country’s main export product.

Bashiruddin explained that the public disclosure of the agreement’s terms had previously led to higher tariffs, but the government still managed to bring them down to 20 percent compared to competitor countries. He expressed regret that the publication of the deal’s conditions limited Bangladesh’s negotiating flexibility. The adviser defended the timing of the agreement, citing the need to protect export earnings worth one trillion taka and safeguard around 700,000 jobs.

He also pointed out that US tariffs have been fluctuating recently, referencing a sharp increase in Korea’s tariff rate within days. The adviser said the government did not want to leave a heavy tariff burden for the next administration.