Bangladesh to negotiate with US over 37% tariff

The issue of the 37 percent tariff on imports from Bangladesh will be resolved through discussion with the United States, Chief Adviser Prof. Mohammed Yunus, currently on a state visit to Thailand, said on Thursday.

The issue of the 37 percent tariff on imports from Bangladesh will be resolved through discussion with the United States, Chief Adviser Prof. Mohammed Yunus, currently on a state visit to Thailand, said on Thursday.

“We are reviewing the matter. As it is negotiable, we will discuss it and I am confident that we would be able to reach the best solution,” Shafiqul Alam, press secretary to the chief adviser, told the mass media in Thailand, quoting the chief adviser as saying.

Earlier, the United States announced a 37 percent tariff on imports from Bangladesh as part of President Donald Trump's sweeping new "Reciprocal Tariffs" policy.

BSS adds: Alam said, "The whole issue is still at the early stages of discussion. We are reviewing it. We are hopeful that the steps we are taking will help make our relations with the US stronger in the coming days.”

He said the interim government hopes that it would be able to move towards a solution that would be a win-win situation for both the countries.

“We will do something that will protect the interests of both the US and Bangladesh,” the press secretary said, adding that Bangladesh continues to communicate with the US to this end.

Earlier in the morning, Alam said Bangladesh is reviewing its tariffs on products imported from the United States.

"The National Board of Revenue is identifying options to rationalise tariffs expeditiously, which is necessary to address the matter," he wrote on a Facebook post this morning.

Alam said the United States is a close friend of Bangladesh and our largest export destination.

The interim government has been working with the US since the Trump Administration took over to enhance trade and investment cooperation between the two countries, he said.

"Our ongoing work with the US government is expected to help address the tariff issue," the press secretary said.

The United States has recently announced a 37 percent tariff on goods imported from Bangladesh as part of US President Donald Trump’s new ‘reciprocal tariff’ policy.