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Bangladesh secures 20% US tariff for garments, exporters relieved

Bangladesh secures 20% US tariff for garments, exporters relieved

DHAKA/KARACHI/AHMEDABAD, Aug 1 (Reuters) – Bangladesh has negotiated a 20% tariff on exports to the U.S., down from the 37% initially proposed by U.S. President Donald Trump, bringing relief to exporters in the world’s second-largest garment supplier. The new rate is in line with those offered to other major apparel-exporting countries such as Sri Lanka, Vietnam, Pakistan and Indonesia. India, which failed to reach a comprehensive agreement with Washington, will face a steeper 25% tariff. Trump put steep tariffs on exports from dozens of trading partners, including Canada, Brazil, India and Taiwan, ahead of a Friday trade deal deadline. The

Pakistan hails 19% tariffs under US trade deal

Pakistan hails 19% tariffs under US trade deal

Islamabad, Aug 1 (PTI) Pakistan on Friday announced that the US has imposed a 19 per cent tariff on its exports and termed the step as a “balanced and forward-looking” move that enhances the country’s competitiveness in the American market. The new rate is down from the previous 29 per cent tariff announced by US President Donald Trump. Welcoming the “successful conclusion” of the tariff-related discussions with the US, the Ministry of Foreign Affairs in a statement said, “As per the outcome of these talks, a tariff of 19 per cent will be applicable for Pakistani exports to the US

Gold declines Rs 400 to Rs 97,620/10 g; silver tumbles Rs 2,500

Gold declines Rs 400 to Rs 97,620/10 g; silver tumbles Rs 2,500

New Delhi, Aug 1 (PTI) Gold prices dipped Rs 400 to Rs 97,620 per 10 grams in the national capital on Friday due to continuous selling by stockists, according to the All India Sarafa Association. The yellow metal of 99.9 per cent purity had closed at Rs 98,020 per 10 grams in the previous market session. In the national capital, gold of 99.5 per cent purity dipped by Rs 300 to Rs 97,500 per 10 grams (inclusive of all taxes) on Friday against the preceding session’s closing level of Rs 97,800 per 10 grams. “Gold traded weak, tracking softness in

Rupee rises 12 paise to close at 87.53 against US dollar

Rupee rises 12 paise to close at 87.53 against US dollar

Mumbai, Aug 1 (PTI) The rupee appreciated 12 paise to close at 87.53 (provisional) against the US dollar on Friday, on lower crude prices and suspected RBI interventions as US President Donald Trump’s sweeping new tariffs triggered fresh concerns over a much wider disruption in the global trade landscape. Forex traders said the US’ imposition of a 25 per cent tariff on Indian exports triggered risk-off sentiment and heightened concerns regarding further rupee depreciation. On Wednesday, Trump announced the 25 per cent tariff on India and an additional penalty for New Delhi’s purchases from Russia. While August 1 was the

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