FX.co ★ Bangladesh Confirms U.S. Wheat Import Deal

Bangladesh has sanctioned the procurement of 220,000 metric tons of wheat from the United States through a government-to-government agreement. This initiative is part of an effort to alleviate trade tensions with Washington following tariffs implemented by the administration of U.S. President Donald Trump. The Cabinet Committee on Government Purchase has approved this acquisition, with the wheat priced at $308 per ton. The supply will be managed by Agrocorp International, a company based in Singapore and authorized by U.S. Wheat Associates. This agreement follows a memorandum signed in July that commits Bangladesh to importing 700,000 metric tons of U.S. wheat annually over five years. This strategy aims to diversify grain sources and enhance trade relations. Officials have indicated that another goal is to reduce Bangladesh’s $6 billion trade deficit with the U.S., while securing more advantageous terms for key exports, notably ready-made garments, which are a major component of its exports to the American market.