Politics
ALAM, ASIA, BANGLADESH, BASH, BASHIR, BASHIR UDDIN, BIDA, CHOWDH, CHOWDHURY ASHIK MAHMUD BIN HARUN, DHAKA, INTERNATIONAL RELATIONS, JAMUNA, KHALILUR RAHMAN, LU, LUTFEY SIDDIQI, MUHAMMAD YUNUS, NATIONAL SECURITY, NORTH AMERICA, RAHMAN, SHA, SHAFIQUL ALAM, SK, STATE GUEST HOUSE JAMUNA, TRADE, UNITED STATES, US, US ADMINISTRATION, US DEPARTMENT OF STATE, USTR, WASHINGTON
Nia Simpson
Bangladesh to Consult US on Tariff Measures, Assuring Preparedness and Confidence
Bangladesh is set to consult with the US on tariff measures, with High Representative Dr. Khalilur Rahman emphasizing there is no cause for panic. Ongoing discussions since February aim to address the newly imposed 37% tariffs under Trump’s Reciprocal Tariffs policy. The government remains optimistic about enhancing exports and navigating trade challenges effectively.
High Representative Dr. Khalilur Rahman announced on Saturday evening that Bangladesh would soon implement measures in consultation with the US regarding tariff issues, emphasizing that there was no cause for panic. He reassured that the country is fully prepared for these developments and that discussions have been ongoing with the US administration since early February following directives from the Chief Adviser, Prof. Muhammad Yunus.
During a media briefing at State Guest House Jamuna, Rahman conveyed optimism regarding a positive response from the US. He elaborated on the efforts to address both the challenges and opportunities presented by the tariffs imposed on Bangladesh. Commerce Adviser Sk Bashir Uddin highlighted that the government is in communication with both the Bangladeshi Embassy in Washington and the US Embassy in Dhaka.
The government is actively seeking guidance from the Chief Adviser to manage the situation, which aims to maintain and enhance Bangladesh’s export performance. Press Secretary Shafiqul Alam indicated that Bangladesh’s engagement in a new global trade order would ultimately benefit its exports, reinforcing the government’s commitment to fostering a business-friendly environment.
Plans are being finalized to address the US tariffs, which have risen to 37%, as part of President Donald Trump’s Reciprocal Tariffs policy, a significant increase from the current 15%. The National Board of Revenue is working on rationalizing tariffs swiftly to mitigate adverse effects. Despite competitive nations facing even higher rates, the government remains focused on strengthening bilateral trade with the US, its largest export market.
Furthermore, an emergency meeting was convened by the Chief Adviser, wherein key governmental figures and advisors discussed strategies to effectively navigate the tariff issue. The meeting included prominent economists and officials who were tasked with providing direction for trade negotiations and possible adjustments to enhance export outcomes.
The Chief Adviser’s commitment to addressing this tariff challenge was evident, with plans for continued engagement with US authorities, indicating Bangladesh’s resilience in the face of trade obstacles.
In summary, Bangladesh is poised to respond proactively to the recent US tariff impositions, with strategic consultations underway between key stakeholders and US officials. The administration’s focus on export enhancement and trade cooperation underscores the nation’s commitment to addressing challenges while seizing potential opportunities in the evolving global trade landscape. Confidence remains high that these initiatives will strengthen Bangladesh’s position in the export market, particularly with the US, amidst competitive pressures.
Original Source: www.justnewsbd.com
Post Comment