US cuts tariffs on selected Bangladeshi apparel

Bangladesh’s foreign exchange reserves have risen to 34.06 billion US dollars, according to the latest data released by Bangladesh Bank on Monday. The figure reflects the country’s total reserves calculated under the central bank’s traditional accounting method.

Asian markets moved higher on Tuesday, extending gains after a strong performance on Wall Street, while Japan’s Nikkei surged more than two percent to a fresh record high following Prime Minister Sanae Takaichi’s decisive election victory. 

Indian refiners are stepping back from purchasing Russian oil for upcoming deliveries, a move seen as supporting New Delhi’s efforts to finalize a trade agreement with the United States.

Bangladesh is set to sign a trade agreement with the United States tomorrow designed to reduce reciprocal tariffs and ease pressure on its export sector, particularly the garment industry. The deal will include commitments from Bangladesh to increase imports of American goods to help narrow the significant trade gap between the two countries.

Bangladesh is set to sign its first-ever Economic Partnership Agreement (EPA) with Japan in Tokyo, marking a major step in its trade diplomacy as the country prepares to graduate from least developed country status later this year. 

Malaysia has announced an immediate and complete ban on the import of electronic waste, declaring the country will no longer serve as a destination for the world’s discarded electronics. The Malaysian Anti-Corruption Commission (MACC) said all e-waste is now classified under “absolute prohibition,” eliminating previous exemptions that allowed limited imports with environmental approval.

China will ban hidden car door handles on all cars sold in the country, becoming the first nation to restrict the design over safety risks linked to accidents and emergency access.

India has slashed its development assistance to Bangladesh by 50 percent in the Union Budget for the 2026–27 fiscal year, reflecting a sharp deterioration in bilateral ties following the ouster of former prime minister Sheikh Hasina.

US President Donald Trump said on Saturday that India will begin buying crude oil from Venezuela rather than purchasing it from Iran, describing the arrangement as already agreed in concept. Trump made the comments to reporters aboard Air Force One as he travelled from Washington to Florida.

The weakening dollar, which hit a four-year low last week against major global currencies amid rising tensions between the US and Europe over Greenland, is expected to help Bangladesh contain inflation and ease its debt servicing burden, giving the central bank more flexibility in monetary policy.

South Korea posted its highest-ever exports for the month of January, official data showed on Sunday, fuelled by a global AI boom heavily reliant on chips made in the country.

The US Federal Reserve voted on Wednesday to keep interest rates unchanged, as chair Jerome Powell strongly defended the importance of the central bank’s independence amid political pressure and a federal investigation.

Bangladesh has held high-level discussions with Meta, the parent company of Facebook, to address misinformation and disinformation ahead of the upcoming general elections and a referendum scheduled for February 12.

India and the European Union have finalised a landmark free trade agreement that will cover around a quarter of the global economy, Prime Minister Narendra Modi said on Tuesday, as both sides look to reduce their reliance on uncertain ties with the United States.

Bangladesh has been paying India’s Adani Power about $400–500 million more each year than it should for electricity, amounting to roughly a 50 percent overpayment, according to a report by the national committee reviewing power sector agreements.

India is set to sharply reduce tariffs on cars imported from the European Union, cutting duties to 40% from levels as high as 110%, according to sources familiar with the negotiations. The move would mark India’s biggest opening yet of its highly protected auto market as New Delhi and Brussels near a long-awaited free trade agreement that could be announced as early as Tuesday.