Dhaka: Chief Adviser Professor Muhammad Yunus today sent a letter to US President Donald Trump requesting him to postpone the application of a 37 percent tariff on Bangladeshi products in the US market.
According to Bangladesh Sangbad Sangstha, the Chief Adviser’s Office (CAO) confirmed the request to BSS. Chief Adviser Prof Yunus has addressed a letter to US President Donald J. Trump requesting him to delay the application of US reciprocal tariff measures on Bangladesh for three months. This postponement would allow the interim government to smoothly implement its initiative to significantly increase US exports to Bangladesh, as stated in a press release by the Chief Adviser’s Press Wing.
In his letter, Prof Yunus emphasized that Bangladesh is the first country to undertake such a proactive initiative, citing the visit of High Representative Dr Khalilur Rahman to Washington DC in February. Since then, both nations have been collaborating to identify specific actions. Bangladesh has also become the first country to enter into a multi-year agreement to import liquefied natural gas from the US.
A key component of Bangladesh’s strategy is to substantially increase imports of US agricultural products such as cotton, wheat, corn, and soybean, which will benefit US farmers. Bangladesh currently has the lowest tariff on most US exports in the South Asian region, and Prof Yunus indicated that further tariff cuts on US products are being developed, including top US export items like gas turbines, semiconductors, and medical equipment.
To enhance access to the US market, Bangladesh will establish dedicated duty-free bonded warehouses for cotton. Additionally, the country is removing certain testing requirements and rationalizing packaging, labeling, and certification requirements. Trade facilitation measures, such as simplifying customs procedures and standards, are also being undertaken, the Chief Adviser added.
Prof Yunus assured President Trump that Bangladesh will take all necessary actions to fully support his trade agenda. Furthermore, a separate letter detailing Bangladesh’s actions will be sent by the Commerce Advisor to the US Trade Representative soon, as mentioned in the statement.