BD gets green signal on US tariff cut

Bangladesh has concluded the first day of third round of negotiations regarding tariffs with the United States of America.

During the negotiations, US officials, for the first time, issued a green signal on reducing the 35% reciprocal tariff imposed on Bangladesh.

The third round of Bangladesh-US tariff negotiations commenced on Wednesday (Bangladesh Time) at the head office of the United States Trade Representative (USTR) in Washington, DC.

Commerce Adviser Sk Bashir Uddin led the Bangladesh delegation during the negotiations.

Other members of the delegation included National Security Adviser to the Chief Adviser Dr Khalilur Rahman, Commerce Secretary Mahbubur Rahman, and Additional Secretary of the Ministry of Commerce Dr Nazneen Kawsar Chowdhury.

Commerce Secretary Mahbubur Rahman told a media outlet that Bangladesh has secured a green signal from the US on reducing the 35% reciprocal tariff imposed on Bangladesh.

He said, “Tariff will be reduced significantly although it is yet to be finalized how much it will be.”

“Something good awaits Bangladesh. Final decision on tariff reduction can be known on July 31, the last day of third round of negotiations,” according to a source of the delegation.

On July 7, US President Donald Trump imposed 35 percent reciprocal tariff on the goods imported from Bangladesh, which came into effect on August 1.