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He believes Bangladesh can reach the best possible deal through negotiating with the US
Published : 03 Apr 2025, 10:12 PM
Chief Advisor Muhammad Yunus has expressed strong optimism that the ongoing tariff dispute with the United States will see positive progress through discussions.
His Press Secretary Shafiqul Alam conveyed this to state-run news agency Bangladesh Sangbad Sangstha (BSS) on Thursday.
“We are reviewing the matter. Since it is negotiable, we will negotiate, and I am confident that we can reach the best possible solution,” said Shafiqul quoting Yunus as saying.
The chief advisor is currently in Bangkok to attend the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Summit, where his press secretary spoke to BSS.
US President Donald Trump, under his new “reciprocal tariff” policy, has announced additional duties on imports from over a hundred countries.
Under this policy, Bangladeshi exports will now face a 37 percent supplementary tariff when entering the US market.
Previously, the average tariff on Bangladeshi goods in the US stood at 15 percent.
With the new imposition, the total tariff on Bangladesh’s exports to the US will rise to 52 percent.
The US is Bangladesh’s largest market for ready-made garments.
In 2024, Bangladesh exported nearly $8.4 billion worth of goods to the US, of which $7.34 billion came from apparel.
The new supplementary tariff has raised concerns that Bangladesh’s garment industry may face significant challenges in maintaining its competitiveness.
Shafiqul, in a Facebook post on Thursday morning, said Bangladesh is reviewing the tariff structure on goods 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.
He added, “Since the Trump administration took office, we have been working closely with the US to enhance trade and investment cooperation. Our ongoing discussions with the US government are expected to yield positive progress on the tariff issue.”
Later in the evening, he shared the chief advisor’s views with BSS.
“The entire issue is still in the early stages of discussion. We are reviewing it, and we are hopeful that the steps we are taking will further strengthen our ties with the US in the coming days,” Shafiqul said.
He reaffirmed the interim government’s commitment to finding a solution that benefits both countries.
“We will take steps to protect the interests of both Bangladesh and the US. To this end, Bangladesh continues to engage in discussions with the US,” he said.
