Commerce adviser SK Bashir Uddin is leading Bangladesh’s trade delegation, with national security adviser Khalilur Rahman being part of the team. The next round of negotiations is scheduled for today.
Alam’s comments followed the United States announcing a plan to impose a 35-per cent trade tariff on Bangladesh, a slight reduction from the 37 per cent rate initially proposed.
Bangladesh claims it deserves more favourable terms than competitors such as Vietnam, which recently secured a 20-per cent rate.
The new US tariff rate raised concerns among exporters, according to domestic media reports.
Meanwhile, Golam Mortuza, Press Minister at the Bangladesh Embassy in Washington, said in a separate Facebook post that the proposed 35-per cent tariff is ‘not a final decision’.
As the Donald Trump administration has extended its tariff deadline to August 1 from July 9, the development has offered a three-week window to Bangladesh to finalise a trade agreement.
If Bangladesh fails to reach an agreement, the total US tariffs on its products will exceed 53 per cent.
To narrow a trade gap heavily in its favour, Bangladesh has offered zero-duty access for many US products and has committed to increasing imports of American goods, including LNG, cotton, aircraft and agricultural products.
ALCHEMPro News Desk (DS)
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