Bangladesh is preparing to commit to increasing imports from the United States by $1.5 billion over the next 18 months in an attempt to secure a tariff relief agreement with Washington, officials said Monday.

The proposal is expected to be tabled during the third round of negotiations between Bangladesh and the Office of the United States Trade Representative (USTR), scheduled for July 29–31 in Washington, DC.

The two sides are working toward signing an ‘Agreement on Reciprocal Trade Framework’ to avert a pending 35% tariff on Bangladeshi exports to the US, which is due to take effect on August 1, 2025.

A high-level Bangladeshi delegation, led by interim Commerce Adviser Sk Bashir Uddin, left Dhaka on Monday for the talks. The delegation also includes National Security Adviser Khalilur Rahman, Commerce Secretary Mahbubur Rahman, and Additional Secretary Nazneen Kawshar Chowdhury.

The prospective deal comes amid a sharp bilateral trade imbalance. In FY24, Bangladesh exported goods worth $7.68 billion to the US, while importing only $2.5 billion. The new import plan—estimated at over $3 billion—includes purchases of 25 Boeing aircraft, 0.7 million tonnes of wheat over five years, and expanded procurement of soybean and iron scraps.

The government has already kept tariffs at zero on 190 products and added over 100 new items to its duty-exemption list in the FY26 budget, aiming to narrow the trade gap and attract reciprocal concessions.

Officials expressed cautious optimism, citing prior talks and recent tariff reductions for other countries by the Trump administration. Bangladesh is pushing for fairer rates for key exports, such as ready-made garments, its largest export item to the US.

Meetings have also been held with major U.S. industry groups, including the U.S. Wheat Associates, U.S. Soybean Export Council, U.S. Cotton Association, Chevron, and the American Apparel and Footwear Association.

While previous rounds of talks ended without agreement, officials hope this round will result in a deal that preserves market access and stabilises trade ties amid global protectionist pressures.