CA to speak directly with US Administration on tariff imposition

Chief Adviser Professor Muhammad Yunus will personally engage in discussions with the US administration regarding the newly imposed tariffs, Commerce Adviser Sheikh Bashiruddin announced on Saturday night (April 5).

The announcement came during a press briefing held outside the State Guest House Jamuna, following an emergency meeting convened by the Chief Adviser to address the tariff issue.

Commerce Adviser Sheikh Bashiruddin emphasised that Professor Yunus himself would take the lead in engaging with US officials to find a resolution to the challenges posed by the recent tariff hikes.

"Efforts will also be made to reduce the trade deficit with the US by increasing imports," he added, signalling Bangladesh's willingness to explore measures aimed at balancing trade relations.

The emergency meeting, attended by key government officials, experts, and advisors, focused on formulating a strategic response to mitigate the impact of the tariffs on Bangladesh's economy.

The 37 per cent levy on Bangladeshi goods, part of US President Donald Trump’s "Reciprocal Tariffs" policy, has raised concerns about its potential repercussions for the country's export-dependent industries, particularly textiles and apparel.

Dr Khalilur Rahman, High Representative of the Chief Adviser, sought to reassure stakeholders, saying that the tariff increase was not an abrupt development and that the risk of significant damage could be mitigated through constructive dialogue.

"A solution will be found through discussions with the United States," he asserted, highlighting the importance of diplomacy in navigating this challenging phase.

Bangladesh’s response to the tariff issue includes exploring ways to rationalize its own tariffs on US imports, as highlighted earlier by officials.

The National Board of Revenue (NBR) is reportedly identifying options to expedite this process, aiming to demonstrate goodwill and foster cooperation with Washington.

As Bangladesh prepares for high-level engagements with the US administration, all eyes remain on how effectively these discussions can alleviate the challenges posed by the new trade measures.

For now, the government’s focus remains firmly on safeguarding the nation’s trade relations and economic stability amid an evolving global trade landscape.

Finance Adviser Salehuddin Ahmed, Power, Energy and Mineral Resources Adviser Fouzul Kabir Khan, Foreign Affairs Adviser Touhid Hossain, Commerce Adviser Sheikh Bashiruddin, High Representative of the Chief Adviser Dr Khalilur Rahman, Bangladesh Bank Governor Ahsan H Mansur, Special Envoy of the Chief Adviser Lutfey Siddiqui, BIDA Executive Director Ashik Chowdhury, , Chief Advisr’s Principal Secretary Siraj Uddin Mia, Chief Adviser’s Principal Coordinator for SDGs Lamia Morshed, Finance Secretary Dr Khairuzzaman Majumder, NBR Chairman Abdur Rahman, and Policy Research Institute (PRI) Chairman Zaidi Sattar attended the meeting.