Tariff rate is not final yet, says Salehuddin

The tariff rate, which the US has imposed on Bangladeshi goods, is not final yet, said Finance Adviser Dr Salehuddin Ahmed on Tuesday.

“The final tariff will be fixed in the one-to-one negotiation with the United States Trade Representative (USTR). That’s why we will have our meeting with them (USTR).

He expressed optimism about securing a better outcome in the one-to-one negotiation with the USTR following US President Donald Trump’s announcement of new tariffs on imports from 14 countries including Bangladesh.

“There is an opportunity for reconsideration of the US’s imposition of 35 per cent tariff on Bangladesh.”

The Finance Adviser dismissed concerns over weak negotiation skills on Bangladesh’s part, saying, “Vietnam received greater tariff relief because their trade deficit with the US is $125 billion while ours is only $5 billion. So, Vietnam got the better discount in the tariff rates.”

Salehuddin Ahmed said the Commerce Adviser is already in Washington and has been working on this issue since he went three days ago.

“We will understand the matter after holding the July 8 meeting which will be held early morning on July 9 (Bangladesh time),” he added.

President Trump, in a letter posted on his Truth Social account early Tuesday (Bangladesh time), announced a 35% tariff on Bangladeshi goods-2% less than the initial 37% proposed three months ago. However, this still remains significantly higher than Vietnam’s revised tariff rate of 20%, negotiated as part of a new trade deal under which Vietnam agreed to remove all import duties on US goods.