Trade deal with Trump administration is not immutable: Commerce Minister

Commerce Minister Khandaker Abdul Muktadir has said that the trade agreement signed between Bangladesh and the United States is not immutable and may be modified, added or revised if it require.

Speaking about bilateral economic ties, he noted that the trade between the two countries currently stands at approximately $8.5 billion. Of this amount, Bangladesh imports nearly $2.75 billion worth of goods from the United States.

The Commerce Minister said this after US Assistant Secretary of State for South and Central Asian Affairs S. Paul Kapur met him at his office at Bangladesh Secretariat on Wednesday.

Abdul Muktadir described the United States as one of Bangladesh’s largest single-country trading partners. As such, the broader economic relationship encompasses not only trade, but also future investment prospects and the development of digital infrastructure, among other key areas of cooperation.

Referring to the reciprocal trade agreement between the USA and Bangladesh signed on February 9, he said no separate or special discussion was held on the signing itself during the latest meeting, as it had already been concluded between the two governments.

Responding to queries about US tariff measures, the minister said the matter relates to a provision under the International Emergency Economic Powers Act through which tariffs had been imposed.

He noted that after a higher US court ruled that the specific provision did not justify the imposition of those tariffs, the overall situation became “evolving.”

Addressing criticism that the agreement may not have adequately protected Bangladesh’s interests, the commerce minister said any bilateral trade deal involves demands and concessions from both sides.

“In any agreement, some clauses may be more favorable to one side, while others benefit the other side. Both parties negotiate to reach a win-win situation,” he said.