US yet to finalize 35% tariff on Bangladeshi exports

The government has said 35 percent tariff proposed by the United States (US) on Bangladeshi good is not yet final.

Dr. Salehuddin Ahmed, Finance adviser made the remark on Tuesday (July 8) at the Secretariat in Dhaka.

He told reporters that the final decision will come through one-on-one negotiations between the two countries.

Dr. Salehuddin said, “A meeting will be held on Wednesday with officials of the United States Trade Representative (USTR) and our commerce delegation in this regard.”

The outcome of that meeting will provide clarity on the issue, he added.

“Our trade adviser is already in the US. He went three days ago. The meeting will be held very early in the morning according to US time. After that, we’ll get a clearer picture,” he said.

He also mentioned that the US has taken a blanket approach for 14 countries. “They are handling China separately through a single framework, while applying a common measure to others. Now we will negotiate for a better position.”

On whether Bangladesh can meet the conditions outlined in the US letter, Dr. Salehuddin said, “I cannot say anything now.”

Regarding the country’s revenue situation, he noted, “The collection so far is not too far off the target. We believe that if we can reform the system instead of just focusing on tax and VAT, revenue collection will improve significantly. There will be less leakage and no chance of collusion between businesses and officials. Our tax capacity is good, but we haven’t fully used it. That’s why we’re seeing a revenue shortfall.”