Commerce Adviser Sheikh Bashiruddin has reassured that the country’s exports will not be significantly affected by the 20 percent counter-tariff imposed by the United States on Bangladeshi goods.
“We are confident that even with the 20 percent tariff, Bangladesh will maintain a competitive position. There is no risk of our exports being hampered in the US market,” Bashiruddin stated. “However, we had hoped the tariff would be lower.”
Bangladesh’s National Security Adviser and Chief Negotiator Dr Khalilur Rahman said, “We have negotiated very carefully so that our commitments are consistent with national interests and capabilities. Protecting our garment industry was a priority. We have pledged to buy agricultural products from the United States. We have also used it to improve food security and relations with major US agricultural states.”
He also said, “Today, we have successfully avoided the possibility of a 35 percent retaliatory tariff. This is good news for our garment industry and the millions of people who depend on this sector. We have been able to maintain our global competitiveness and have created new opportunities to enter the world’s largest consumer market.”
On Thursday local time, US President Donald Trump announced the imposition of new retaliatory tariffs on several countries, including Bangladesh, in an executive order. The US had previously indicated the possibility of imposing a 35 percent tariff on Bangladesh.
Although the new rate is slightly lower than that, it will bring the total tariff on exports to 35 per cent – a new 20 percent in addition to the current average of 15 per cent.
The order published on the White House website also shows that 25 percent tariffs have been imposed on India, 19–20 percent on Pakistan, Indonesia, Malaysia, the Philippines and Sri Lanka, and a maximum of 40 percent on Myanmar.
A high-level Bangladesh delegation is currently in the United States to discuss the tariff issue.
Led by Commerce Adviser Sheikh Bashiruddin, they have been meeting with the US Trade Representative (USTR) for three days. The delegation also includes National Security Adviser Khalilur Rahman, Commerce Secretary Mahbubur Rahman and Additional Secretary of the Ministry of Commerce Nazneen Kausar Chowdhury.