US tariff hike won’t affect exports: Commerce Adviser

Commerce Adviser Sheikh Bashir Uddin has said that the US tariff hike on Bangladeshi products will not affect exports. 

The adviser said this at a press conference after an emergency meeting on the US tariff issue at the State Guest House Jamuna on Saturday night.

The emergency meeting was called by Chief Adviser Dr. Muhammad Yunus to review the tariffs imposed on Bangladeshi products in the US. 

At the press conference, the commerce adviser said, “The chief adviser himself will talk to the US authorities about the new tariffs. The trade deficit will be reduced by increasing imports. Bangladesh will not be affected by the US tariff hike”.

He elaborated that the government is eyeing renegotiations of the tariffs within one or two days through intense discussions that started in February.

“Bangladesh will import more of its necessary goods from the USA and reduce its trade surplus with the country as needed for negotiating the recently announced 37% US reciprocal tariff on Bangladesh to be effective from 9 April,” he said.

The adviser said, “In alignment with the government's reform agenda, the import barriers are being removed as both countries want to boost bilateral trade”.

“Since export cannot be cut, Bangladesh is eyeing more imports from the USA to pave the way for negotiating the high tariff on its exports to the US market,” he added.

Chief Adviser's High Representative Khalilur Rahman said, “Nothing to be worried about. It will take one or two more days and we will find a way through intense discussion.”

He also said Bangladesh has been one of the first to approach relevant authorities of the US, including the USTR, to find ways to enhance bilateral trade.