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| We want Bangladesh to have a balanced and fair participation in the US economy. |
Dhaka, July 23, 2025 – A delegation led by the Commerce Adviser will travel to the United States before August 1 to discuss the possibility of reducing tariffs on Bangladeshi products, the Adviser announced on Wednesday after a meeting of the Advisory Committee on Government Procurement at the Secretariat.The Adviser expressed optimism about tariff reductions, stating, “We are hopeful about lowering tariff rates. Bangladesh’s trade deficit with the US is minimal, around $6.5 to $7 billion.” Regarding imports from the US, the Adviser revealed plans to import several critical commodities but declined to specify which ones. On wheat imports, he said, “We aim to diversify our wheat imports. Uncertainties have arisen in imports from the Russia-Ukraine region due to issues around the Black Sea.” Acknowledging that US wheat may be slightly more expensive, he noted, “The price is a bit higher, but US wheat has a slightly higher protein content and is cleaner.” He added that importing at a higher cost would yield certain benefits and help advance negotiations, ultimately contributing to reducing Bangladesh’s trade deficit. The Adviser confirmed that discussions on the tariff hike, set to take effect from August 1, will be held with the United States Trade Representative (USTR) during the visit. “I am also communicating through my channels,” he said, dismissing the need for lobbyists. “Lobbyists are hired for long-term negotiations. Here, we need quick action.” When asked about involving business leaders in the talks, he remarked, “I’ve negotiated with the World Bank and ADB. Businessmen wouldn’t even get past the gate, let alone negotiate, and would only create a fuss afterward. That fuss won’t help.” However, he acknowledged the importance of the US private sector and confirmed discussions with the US Chamber of Commerce. “We have a good image in the US. Recently, we cleared dues owed to Chevron, Excelerate Energy, and MetLife. The US Chamber wrote to me, expressing a positive stance toward Bangladesh,” he said. On July 7, US President Donald Trump announced a 35% tariff on Bangladeshi products in a letter to Chief Adviser Professor Dr. Muhammad Yunus, citing a “long-standing and persistent trade deficit” with Bangladesh. Although the tariff was reduced by 2% from the previously announced rate, it remains significantly higher than the 20% tariff Vietnam secured through a recent trade agreement with the US.
