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Published : 05 Apr 2025, 10:39 PM
The National Board of Revenue (NBR) has advised the interim government to prioritise imports from the United States in light of the high tariffs slapped on Bangladeshi products.
This came during an emergency meeting convened by Chief Advisor Muhammad Yunus, as business leaders voiced concerns over the impact of the new trade restrictions.
The Saturday meeting, held at 7:30pm at the State Guest House Jamuna, brought together top government advisors, economists, and officials to discuss potential countermeasures.
According to a senior official from NBR Tax Policy Wing, the agency has recommended that Bangladesh prioritise US-origin imports for essential government procurements—despite the higher costs involved—citing liquefied natural gas (LNG) and wheat as examples.
The official told bdnews24.com that alongside this suggestion, the NBR had also submitted a list of products for which import duties could be reduced.
“We’ve drafted a list of around 10 products where duty cuts are feasible,” he added. “These include bulbs, piping materials, generators, generating sets, and other electrical items.”
The NBR Policy Wing also submitted an analytical report reviewing tariffs applied at the import stage to US-origin goods, examining para-tariffs and their actual revenue impact.
On the issue of the claimed 74 percent duty on US imports, the NBR official brushed off the figure as “inaccurate”.
“It’s wrong to say we impose 74 percent duty on American products. Our review shows that the effective rate is actually under 5 percent,” he said.
The official added, “What that means is, even if you zero out the duty, unless imports increase, it won’t have any impact.
“And just cutting import duty doesn’t necessarily mean imports will go up.”
Amid growing concerns among local businesses, the official explained that the proposed duty adjustments alone might not suffice.
“To boost imports, government intervention perhaps needed. For instance, last year the government imported LNG, but not this year. That could change. Wheat can also be sourced from the US,” he said.
US President Donald Trump’s new tariffs on goods from over 100 countries will impose a 37 percent supplementary tariff on Bangladeshi exports, increasing the total tariff to 52 percent, up from the previous 15 percent.
When asked if relying on US suppliers would raise procurement costs compared with other countries, the NBR official said: “At this moment, there’s no scope to debate feasibility.”
He believes this approach is currently the most effective step Bangladesh can take to protect its export access to the US market.
