Bangladesh orders 25 Boeing planes as part of push to ease US tariffs
The moves are part of a broader strategy to narrow a $6 billion U.S. trade deficit with Bangladesh and avoid a looming 35% tariff hike that has rattled the country's export sector, especially the garments industry which risks losing competitiveness in one of its largest markets.
Explore courses from Top Institutes in
Please select course:
Select a Course Category
Digital Marketing
Data Science
Finance
Technology
Management
Operations Management
Data Science
MCA
Design Thinking
Degree
PGDM
Others
Artificial Intelligence
Data Analytics
Cybersecurity
Public Policy
Project Management
Leadership
MBA
Product Management
CXO
Healthcare
healthcare
others
Skills you'll gain:
Digital Marketing Strategies
Customer Journey Mapping
Paid Advertising Campaign Management
Emerging Technologies in Digital Marketing
Duration:
12 Weeks
Indian School of Business
Digital Marketing and Analytics
Starts on
May 14, 2024
Get Details
Skills you'll gain:
Digital Marketing Strategy
Search Engine Optimization (SEO) & Content Marketing
Social Media Marketing & Advertising
Data Analytics & Measurement
Duration:
24 Weeks
Indian School of Business
Professional Certificate Programme in Digital Marketing
Starts on
Jun 26, 2024
Get Details
"We need new aircraft urgently, possibly within the next couple of years," Commerce Secretary Mahbubur Rahman told reporters. "Initially, it was 14 planes - now it's 25," he said, referring to an earlier plan to purchase aircraft from the U.S.-based manufacturer.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Villas For Sale in Dubai Might Surprise You
Dubai villas | search ads
Get Deals
Undo
Alongside the aircraft deal, Bangladesh is boosting imports of wheat, soybean oil and cotton from the United States. A new agreement signed earlier this month will see the country import 700,000 tonnes of U.S. wheat annually over the next five years.
Officials hope that these steps will help improve trade relations with Washington and soften the impact of the Trump administration's tariff measures.
Live Events
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
16 minutes ago
- Time of India
Trump, EU's Von Der Leyen cite conflicting details on trade deal
President Trump and European Commission President Von der Leyen's new trade agreement reveals discrepancies in key details, highlighting the challenges in its implementation. The EU agreed to a 15% tariff on most exports to the US, but disagreements persist regarding pharmaceuticals, steel, and aluminum. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads President Donald Trump and European Commission President Ursula von der Leyen appear to differ on some key details in their new trade agreement, underscoring the difficulty they may have in turning this deal into a European Union said it would accept a 15% tariff on nearly all its exports to the US. Trump told reporters that the bloc also agreed to open up its 'countries to trade at zero tariff.'After he met with von der Leyen Sunday, Trump said that the deal would not include pharmaceuticals, a contentious point in the negotiations, seeming to imply they would be subject to a higher a separate news conference, von der Leyen said, 'The EU agreed we have 15% for pharmaceuticals.' But she added, 'Whatever decisions later – by the president of the US – that's on a different sheet of paper.'Senior US officials later said that the two sides agreed on a 15% tariff level for the EU's pharmaceutical exports. A separate Section 232 probe on pharmaceuticals is still coming over the next three weeks, but the EU tariff level will remain at 15%, the officials US has initiated investigations into whether the import of certain products, such as aerospace and semiconductors, poses a national security threat to the country. This could lead to separate tariffs on some accords typically require years of negotiations and can run thousands of pages long. Talks on the preliminary agreement clinched on Sunday began in April and concrete details appear EU and US also diverged on another controversial sector, with Trump saying that the 50% tariff on steel and aluminum 'stays the way it is.' Von der Leyen said that metal 'tariffs will be cut and a quota system will be put in place.'The deal doesn't cover the EU's steel and aluminum exports, which will remain subject to 50% tariffs, according to senior US officials. Aerospace tariffs, meanwhile, will remain at 0% pending the outcome of a Section 232 probe, the officials der Leyen argued that she won certainty and stability for companies on both sides of the Atlantic. But it's far from clear that the EU and US will be able to iron out all their differences on the many contentious issues yet to deal with.'The focus will now turn to interpretation and implementation risk, posing a mix of political and technical questions,' Carsten Nickel, deputy director of research at Teneo, wrote in a note. 'Given the nature of the deal, major uncertainties are likely to persist.'
&w=3840&q=100)
First Post
16 minutes ago
- First Post
Kim Jong-Un's sister rejects new South Korean president's outreach to North Korea
Kim Yo-Jong, the powerful sister of North Korean leader Kim Jong-Un, has rejected the outreach of new South Korean President Lee Jae Myung. She said that North Korea has 'no interest' in engaging with South Korea as it continues to be blindly part of American hostilities against her nation. read more The influential sister of North Korean leader Kim Jong Un rebuffed overtures by South Korea's new liberal government, saying Monday that its 'blind trust' in the country's alliance with the US and hostility toward North Korea make it no different from its conservative predecessor. Kim Yo Jong's comments imply that North Korea —now preoccupied with its expanding cooperation with Russia— sees no need to resume diplomacy with South Korea and the US anytime soon. Experts say she likely hopes to drive a wedge between Seoul and Washington. STORY CONTINUES BELOW THIS AD 'We clarify once again the official stand that no matter what policy is adopted and whatever proposal is made in Seoul, we have no interest in it and there is neither a reason to meet nor an issue to be discussed,' Kim Yo Jong said in a statement carried by state media. It's North Korea's first official statement on the government of South Korean President Lee Jae Myung, which took office in early June with a promise to improve badly frayed ties with North Korea. Lee's government has halted anti-Pyongyang frontline loudspeaker broadcasts, taken steps to ban activists from flying balloons with propaganda leaflets across the border and repatriated North Koreans who were drifted south in wooden boats months earlier. North Korea complains of South Korea-US military drills North Korea has shunned talks with South Korea and the US since leader Kim Jong Un's high-stakes nuclear diplomacy with President Donald Trump fell apart in 2019 due to wrangling over international sanctions. North Korea has since focused on building more powerful nuclear weapons targeting its rivals and declared a hostile 'two-state' system on the Korean Peninsula to terminate relations with South Korea. Kim Yo Jong called Lee's steps 'sincere efforts' to develop ties, but said the new government still 'stands in confrontation' with North Korea. She mentioned the upcoming summertime South Korea-US military drills, which North Korea views as an invasion rehearsal. South Korea's Unification Ministry responded that it will steadfastly seek reconciliation with North Korea to realize peaceful co-existence. Spokesperson Koo Byoungsam told reporters that the statement shows North Korea closely monitors the Lee government's North Korea policy despite deep mistrust. Moon Seong Mook, an analyst for the Seoul-based Korea Research Institute for National Strategy, said Kim Yo Jong's statement shows North Korea is holding out for South Korea to abandon the US alliance. STORY CONTINUES BELOW THIS AD Moon said that Kim likely sees little upside in engaging with the South since it cannot restart economic projects that previously benefited the North as long as international sanctions remain in place. North Korea focuses on Russian ties North Korea built cooperation with Russia, sending troops and conventional weapons to support its war in Ukraine, and likely receiving economic and technological assistance in return. Since beginning his second term in January, Trump has repeatedly boasted of his personal ties with Kim Jong Un and expressed intent to resume diplomacy with him. But North Korea hasn't publicly responded to Trump's overture. Leif-Eric Easley, professor of international studies at Ewha Womans University in Seoul, said that Kim Yo Jong's statement had a domestic audience. 'Kim Yo Jong's comments are an effort to advance national pride by portraying North Korea in a superior position, despite its economic struggles and international pariah status,' Easley said. 'She also seeks to justify Pyongyang's weapons programs and divide Seoul and Washington by criticizing upcoming military exercises.' Still, there is a limit on what North Korea can get from Russia, and Pyongyang could change course at a major upcoming meeting of the ruling Workers' Party, likely to be held in January, said Kwak Gil Sup, the head of One Korea Center, a website specializing in North Korea affairs. STORY CONTINUES BELOW THIS AD 'I think North Korea may formulate a Plan B and Plan C in relations for South Korea and the US,' Kwak said. (This is an agency copy. Except for the headline, the copy has not been edited by Firstpost staff.)
Time of India
16 minutes ago
- Time of India
LVMH said to be in talks to offload fashion label Marc Jacobs
French luxury goods group LVMH is in discussions with multiple buyers to offload its fashion label Marc Jacobs , people familiar with the matter told Reuters on Friday. The Bernard Arnault-led company has been holding talks with potential buyers including Reebok-owner Authentic Brands Group and WHP Global , the sources said, who asked not to be named because the discussions are confidential. Authentic Brands declined to comment on the matter while WHP did not immediately respond. Brookstone's owner Bluestar Alliance is also a suitor for Marc Jacobs, which could be worth around $1 billion, according to the Wall Street Journal, which earlier reported the news. LVMH, Marc Jacobs and Bluestar Alliance did not immediately respond to requests for comments on the WSJ report. In 2024, Bloomberg reported that LVMH was exploring strategic options for the label with advisers after receiving interest from potential buyers, though the company denied the claim at the time. Founded in 1984 by American designer Marc Jacobs, the luxury fashion brand is renowned for its eclectic, bold designs that blend high fashion with street style. In 1997, LVMH tapped Jacobs to lead the Louis Vuitton brand and acquired a stake in the designer's eponymous label. The Journal said that a deal could be finalized soon, provided talks do not fall apart. LVMH has recently been offloading some of its brands to streamline its portfolio. Last year, it sold the Off-White clothing brand, founded in 2012 by the late Virgil Abloh, to New York-based company Bluestar Alliance for an undisclosed value. Another label, Stella McCartney, earlier this year, repurchased the minority stake held by LVMH in the house she founded about five years after the luxury group bought it. McCartney, who famously does not use leather or fur, said it will continue to advise LVMH chief Arnault and the group's executive team on sustainability matters. Dealmaking in the luxury retail sector has drawn attention in Europe. Earlier this year, Prada acquired Versace from Capri Holdings, combining two iconic Italian fashion brands in a $1.4 billion deal. LVMH's second-quarter sales, which include products such as Louis Vuitton handbags, Dior dresses and Moet & Chandon champagne, came in slightly below market expectations. The company's shares rose with analysts pointing to hopes on the horizon as the group said it saw some signs of recovery in the key Chinese market. Deutsche Bank analyst Adam Cochrane said that while the second-quarter results were not "stellar," there were some "glimmers of hope." French luxury brands have been navigating prolonged market challenges, including a downturn and the potential impact of U.S. import tariffs.
