Khalilur Rahman, the high representative of the chief adviser assured the public that there was no cause for alarm regarding the 37% reciprocal tariff on Bangladesh's exports to the US, set to take effect on Wednesday.
"There is no need to worry. We are in constant communication with the US administration, and we are well-prepared to handle the situation. We will take appropriate measures shortly and continue engaging in talks to ensure a favorable outcome," he said on Saturday following an emergency meeting held at the State Guest House Jamuna regarding the US tariff hike.
The meeting was chaired by Chief Adviser Professor Dr Muhammad Yunus.
Khalilur Rahman further clarified that this wasn't a sudden development, revealing that discussions with the US on this matter had been ongoing since February.
The meeting also underscored the government's strategy to address the tariff issue.
Commerce Adviser Sk Bashir Uddin who was also present at the meeting explained that Bangladesh would look to import more goods from the US in an effort to reduce the trade surplus with the country, thereby creating room for negotiation.
"We are looking at renegotiating the tariffs within the next couple of days through continued and intense discussions," he said.
Khalilur Rahman added that Bangladesh had been proactive in approaching US authorities, including the United States Trade Representative (USTR), to foster better bilateral trade relations.
"When I visited Washington in February, they mentioned that Bangladesh was the first to reach out to them," Khalilur noted, reflecting on the country's preemptive efforts to improve trade ties with the US.
The meeting highlighted a comprehensive approach to reducing the trade gap, with Bashir Uddin indicating that removing import barriers and increasing the import of key goods such as cotton, fuel, and industrial machinery would be central to negotiations.
Khalilur Rahman reiterated that Bangladesh's engagement with the US would continue with the aim of finding a solution in the coming days.
While concerns over the tariffs had sparked global unease, Khalilur Rahman reassured the public that the government was prepared and optimistic about mitigating the impact.
"We will find a resolution within a couple of days through intense dialogue, and there’s no reason to panic," he added.
