Bangladesh hopes to reduce 35% US tariff through talks: Government

By Ahsan Tasnim

DHAKA: Major garment producer Bangladesh is hoping to reduce the 35% tariff that US President Donald Trump said he will impose, said finance adviser Salehuddin Ahmed on Tuesday, adding Dhaka expects to achieve this through "one-to-one negotiation" with US trade representative (USTR).

Bangladesh commerce adviser Sheikh Bashir Uddin is in Washington, leading the country's trade talks with the US. Fresh round of talks is scheduled for July 9. Expressing optimisn, Salehuddin said "the final tariff will be fixed in the one-to-one negotiation with USTR." "That's why we will have our meeting with them," he said Tuesday, a day Dhaka received a letter from Trump, declaring the US would impose 35% tariff on Bangladeshi goods from Aug 1. In his letter to chief adviser Muhammad Yunus, Trump said, "These tariffs may be modified, upward or downward, depending on our relationship with your country."

Commerce secretary Mahbubur Rahman said the key consideration is to protect trade interest in the existing US market. "We need to agree to some concession," he said, adding there are some orders in place to buy Boeing aircraft. He said govt will promote cotton import and "we will give priority to US in food grains purchase".