Trade Advisor Sheikh Bashiruddin Expresses Confidence in Bangladesh US trade talks Decisions Tariff Negotiations
Dhaka, Bangladesh is gearing up for the next round of trade negotiations with the United States, aiming to secure favorable tariff terms for its exports. Trade Advisor Sheikh Bashiruddin emphasized the country’s readiness for discussions with the US Trade Representative (USTR) while expressing optimism that Washington would set tariffs at a rational level Bangladesh US trade talks. Sours More
The remarks came after a high-level meeting on Monday between Sheikh Bashiruddin, senior officials from the Ministry of Commerce, economists, business leaders, exporters, and traders. The discussions focused on strategies for the upcoming talks with the US, particularly regarding reciprocal tariffs on Bangladeshi goods.
Bangladesh Seeks Fair Tariff Terms from the US Tariff Negotiations
Sheikh Bashiruddin, addressing a press conference, stated, We are confident that we willBe Able To Continue Doing Business In The Us Market With Our Existing Capabilities. He further stressed, We hope the US will set tariffs at a rational level, ensuring a balanced trade relationship.”
Preparations are underway for the third round of negotiations, with Bangladesh formally requesting a schedule for the discussions. The Trade Advisor expressed hope that the US would confirm the meeting dates within the next week.
Government Prioritizes Trade Relations with the US
Commerce Secretary Mahbubur Rahman highlighted the significance of the tariff issue for Bangladesh, stating that the highest levels of the government are actively engaged in resolving trade concerns. “This is a crucial matter for our economy, and we are taking all necessary steps,” he said Bangladesh US trade talks.
Rahman added that stakeholder consultations have been completed, and Bangladesh is prepared to address any challenges through diplomatic dialogue. We have gathered inputs from industry leaders and are ready to negotiate constructively with the US he affirmed.
Business Community Supports Government Efforts
Mohammad Hatem, President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), voiced satisfaction with the government’s progress in trade discussions. We are hopeful that the upcoming talks will yield positive outcomes for our exporters he said Bangladesh US trade talks Will Tariff Negotiations,
The business community remains optimistic, given Bangladesh’s strong export performance in the US market. However, concerns persist over potential tariff hikes that could impact competitiveness.
US Proposes 35% Tariff on Bangladeshi Goods
In a recent development, former US President Donald J. Trump sent a letter to Professor Dr. Muhammad Yunus, an interim government advisor, Bangladesh US trade talks indicating a possible 35% tariff on Bangladeshi products entering the US market from August 1. While this proposal has raised concerns, the Bangladeshi government is actively engaging in dialogue to seek a mutually beneficial resolution.
Key Focus Areas for Bangladesh in US Trade Talks
- Rational Tariff Rates – Bangladesh is advocating for fair and reasonable tariffs to maintain its export competitiveness.
- Strengthening Bilateral Ties – The government aims to enhance trade relations with the US, its largest export destination.
- Industry Preparedness – Exporters are adapting to potential changes while seeking government support to mitigate risks.
- Diplomatic Negotiations – High-level discussions are ongoing to secure favorable terms before the proposed tariff implementation.
Looking Ahead
As Bangladesh prepares for the next round of talks, stakeholders remain cautiously optimistic. The government’s proactive approach and industry collaboration are expected to play a pivotal role in securing a favorable trade agreement.
Sheikh Bashiruddin reiterated Bangladesh’s commitment to fair trade practices, stating, we believe in constructive dialogue and are confident that the US will consider our economic interests.
With the August 1 deadline approaching, all eyes are on the upcoming negotiations Bangladesh US trade talks, which could significantly influence Bangladesh’s export-driven economy. Peoples BD News