Trying to bring down US tariffs to 15%

Commerce Adviser Sk Bashir Uddin has revealed that Bangladesh is actively seeking to reduce the proposed 20 per cent countervailing tariff imposed by the United States to 15 per cent.

He made the remarks during a press briefing on Tuesday following a meeting to set export targets for the 2025-26 fiscal year.

Bashir Uddin said a coordinated effort is underway across government agencies to negotiate a lower rate. “Discussions with the US are still ongoing, and we hope the reduction to 15% can be achieved before the final agreement is signed,” he said.

“We believe the steps we’ve taken to address the US-Bangladesh trade deficit may help in lowering the tariffs,” he added. “However, we cannot be certain. Ultimately, the decision rests with the US authorities who imposed the measures.”

He noted that while the 20 per cent tariff rate has been announced, no formal agreement has yet been reached between the two countries. The Office of the United States Trade Representative (USTR) is currently drafting the agreement, and officials hope a final deal may be concluded by the end of August.

At the same press conference, it was confirmed that no official date has been set for the signing of the agreement.

The proposed countervailing duties relate to concerns over trade imbalances and alleged subsidies in key Bangladeshi export sectors.

A final agreement will have significant implications for Bangladesh’s export economy, particularly in garments, textiles, and agricultural goods.