US to exempt some Bangladeshi clothes from tariffs

Bangladesh has secured exemptions for some clothes and textiles that are made with US-produced materials, as part of a new agreement announced on Monday, BBC reported. 

As part of the deal, Washington will also cut its tariffs on Bangladesh from 20% to 19%, in exchange for Dhaka to open its markets to a wider range of American goods.

The apparel industry forms the backbone of Bangladesh, which is the world's second largest exporter of clothes after China, according to BBC.