'This is what surrender looks like': Expert on US-Bangladesh trade deal, says India did a much better job

Author and commentator Navroop Singh took to social media on Tuesday to share his two cents on the recently signed US-Bangladesh trade deal.

Singh, the author of The Great Reset and co-author of The New Global Order, wrote on X (formerly Twitter) that Dhaka has given up everything for preferential market access for textiles. 

He added that India negotiated a much better deal with the US compared to what Bangladesh got. 

Singh wrote, "Bangladesh has given up everything for preferential treatment on textiles. This is what surrender looks like, not what India did in its deal that is protect its critical sectors, data localisation, etc!"

What exactly did Dhaka give up to get preferential market access for textiles?

As per the trade agreement, Bangladesh has given up data localisation.

The agreement categorically states, "Bangladesh shall facilitate digital trade deal with the United States, including by: (a) refraining from measures that discriminate against US products; (b) ensuring the free transfer of data across trusted borders for the conduct of business; and (c) collaborating with the United States to address cybersecurity challenges. 

It further states that if Dhaka enters into a new digital agreement with a country which is a threat to "essential US interests", Washington may terminate the agreement and reimpose the applicable reciprocal tariff rate decided in an executive order dated April 2, 2025, if the issue is not resolved via consultations. 

This, however, is not it. As part of the deal, Bangladesh also has to make key changes to its foreign investment policies. "Bangladesh shall facilitate its foreign equity caps for US investment in oil and gas, insurance, and telecommunication." 

Besides this, Dhaka is also required to facilitate American investors getting No Objection Certificates wherever required.

"Bangladesh shall enhance the transparency and efficiency of the approval process for US investors to transfer investment-related capital into and out of its territory in freely usable currency at the prevailing market rate of exchange, including by establishing and effectively implementing clear regulatory guidelines regarding the timelines for approvals."

It added that Bangladesh shall address outstanding arrears to US firms without delay and in line with the commitments made as part of the International Monetary Fund (IMF) program. 

Furthermore, it said that processed food and agricultural products derived from products of agricultural biotechnology do not contain living modified organisms, and are not subject to approval by Bangladesh's authorities. 

"The definition of 'processed' includes heat treatment, grinding, or other processing that removes the ability of the product of agricultural biotechnology to germinate." 

It further said that within 24 months of entry of this agreement coming into force, Bangladesh shall develop and implement a policy for a product of agricultural biotechnology which can "be legally sold in the United States and has completed all relevant US premarket processes, whether voluntary or mandatory, shall be allowed to be imported and marketed in Bangladesh for the same purposes without requiring a pre-market review, deregulation, additional labelling requirements, or approval by Bangladesh. 

The policy should also ensure that Dhaka addresses any low-level presence (LLP) occurrence affecting American agricultural exports without unnecessary delay and by taking into account any relevant risk or safety assessment provided. 

Moreover, the agreement stated that if Dhaka requires a halal certification, it shall allow any US halal certifier that meets Bangladesh's halal requirements to certify products as Halal for import into Bangladesh without additional requirements.