Commerce Adviser Sk Bashir Uddin has expressed confidence that Bangladesh will remain competitively positioned as the United States has reduced its previously imposed retaliatory tariff by 17%, setting the new rate at 20% on imports from the country.
Commenting on the development, he said: “With the imposition of a 20% tariff on Bangladeshi exports, we believe our competitive standing will be maintained. There is no immediate concern over disruptions to our exports to the US market. However, we had hoped for a rate below 20%.”
Following the conclusion of the third round of tariff negotiations between Bangladesh and the United States, the White House issued a statement announcing the new rate.
Initially set at 37% and later reduced to 35%, the tariff has now been finalized at 20% after comprehensive discussions.
President Trump’s executive order formalizing the decision has been published on the official White House website.
The order outlines revised tariff rates for Bangladesh as well as several other countries.
A Bangladeshi delegation is in the United States to engage in discussions regarding the retaliatory tariff.
Over the course of three consecutive days, Tuesday, Wednesday and Thursday, delegation members held in-depth negotiations with representatives from the Office of the United States Trade Representative (USTR) in an effort to secure a reduction in tariffs.
