US tariffs pose no major threat, says Debapriya Bhattacharya

Dr Debapriya Bhattacharya, Honorary Fellow at the Center for Policy Dialogue (CPD), ensured that US tariffs are not as alarming as perceived, emphasising that trade economics lacks permanent adversaries. 

He said that recent US-China agreements indicate mutual losses from tariffs, as they would raise import costs for both parties. 

Speaking at a Dhaka Chamber of Commerce and Industry (DCCI) seminar titled "US Reciprocal Tariffs and Bangladesh's Action Plan" on Saturday, he delivered the keynote address.

Dr Bhattacharya put emphasis that Bangladesh’s upcoming LDC graduation, expected in two years, should not cause confusion. 

He urged effective use of this period through product diversification and a stronger focus on the service sector, leveraging national strengths beyond mere trade policy adjustments. 

He praised the government’s measured response to US tariffs and encouraged private sector involvement in reforms.

ICCB president calls for better negotiation skills

Mahbubur Rahman, President of the International Chamber of Commerce Bangladesh (ICCB), highlighted the need to enhance negotiation capabilities to navigate global trade challenges effectively.

Strategic caution urged

Dr Masrur Riaz, Chairman of Policy Exchange of Bangladesh, cautioned that smaller nations like Bangladesh risk being caught in the crossfire of US-China trade tensions, urging careful strategic planning.

Commerce Secretary Mahbubur Rahman, the chief guest, outlined measures like establishing a cotton warehouse to mitigate the impact of US tariffs.

Call for policy-level gas discussions

The seminar also raised demands for policy-level discussions to address ongoing gas supply challenges.

At the seminar, Rajib Haider, director of the textile mill owners' organization BTMA, said, "After every disaster, an opportunity comes. But only those who survive get that opportunity. We, businessmen, will not survive the gas disaster that has begun. Gas meters are going down every day. Our production has decreased by 40 percent. So, there is no point in discussing our opportunities. He demanded discussions at the policy-making level to quickly solve the gas problem."