Dhaka [Bangladesh], July 9 (ANI): The United States and Bangladesh on Tuesday began the second round of negotiations on a proposed Agreement on Reciprocal Tariff, as Dhaka seeks to avert a steep 35 percent tariff on its exports to the US, set to take effect August 1.
According to a statement from the Bangladesh Chief Adviser’s Press Wing, the talks — scheduled to run through July 11 — are being held in Washington, DC, at the invitation of the United States Trade Representative (USTR).
Bangladesh is among the first countries to resume negotiations after US President Donald Trump sent formal letters on July 7 to leaders of 14 nations, notifying them of new reciprocal tariffs.
The Bangladeshi delegation is led by Commerce Adviser Sheikh Bashiruddin, who is attending the talks in person, while National Security Adviser Dr Khalilur Rahman is participating virtually from Dhaka. Senior commerce ministry officials, including the Commerce Secretary and an Additional Secretary, are also present in Washington for the discussions.
The statement noted that Bangladesh hopes to build on the progress achieved during the first round of negotiations, which took place on June 27, and conclude an agreement quickly.
The high-stakes talks come just two days after President Trump issued a letter to Bangladesh announcing the imposition of a blanket 35 percent tariff on all Bangladeshi exports to the US. The letter criticized Dhaka for long-standing trade barriers and what it called an unbalanced trading relationship.
“We have had years to discuss our trading relationship with Bangladesh and have concluded that we must move away from these long-term and very persistent trade deficits engendered by Bangladesh’s tariff and non-tariff policies and trade barriers,” the letter stated.
Trump’s letter, posted on July 7, warned that if Bangladesh raised its own tariffs in response, the US would increase its tariff proportionally above the 35 percent level already announced.
“Please understand that the 35% number is far less than what is needed to eliminate the trade deficit disparity we have with your country,” the letter added.
The tariffs are set to take effect on August 1, unless the two sides reach an agreement to adjust trade terms and address US concerns.
Bangladesh, a major exporter of garments, textiles, and leather goods to the United States, has expressed hopes of preserving its access to the US market through constructive engagement in the ongoing negotiations. (ANI)
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