Bangladesh, Aug. 1 -- After talks and negotiations, the Trump administration has reduced the US tariffs on Bangladeshi products to 20 percent from the initially proposed 35 percent.

The US announced the decision after a third and final round of talks. The Trump administration held a meeting with a Bangladeshi delegation in Washington, DC from 1pm to 3pm local time on Thursday (11pm-1am Bangladesh time) before announcing the decision around 6am on Friday Bangladesh time.

An executive order announcing the fresh tariffs was issued on the White House website, listing the levels levied on products from each country. Bangladesh seems to be in a more advantageous position than many other countries.

The revised rates were announced after a Ban...