Door for US tariff negotiations still open: Commerce Secretary

Commerce Secretary Mahbubur Rahman on Tuesday said that the door for negotiations on the US tariff imposed on Bangladeshi products is still open and expressed high optimism about getting much better results from the negotiations.   

“Bangladesh has proposed to give concessions on various US products including wheat, soybeans and aircraft to reduce the trade deficit. Accordingly, Bangladesh will buy more Boeing aircraft and increase cotton imports. The US will also get importance in purchasing of food grains by Bangladesh government. There is no obstacle to giving or accepting concessions on these issues,” he added. 

The commerce secretary came up with the comments while replying to queries of reporters after chairing two separate meetings on the Advisers Council Committee on Economic Affairs and the Advisers Council Committee on Government Purchase at Bangladesh Secretariat.

US President Donald J. Trump sent a letter on Monday to Chief Adviser of the interim government, Professor Dr. Muhammad Yunus, announcing to impose a 35 percent tariff on Bangladeshi products.

In the letter, Trump stated that from August 1, Bangladeshi goods entering the United States would be subjected to such 35 percent tariff. 

However, he also kept the door open for bilateral tariff negotiations, indicating that parts of the letter could be reconsidered.