Dhaka: Finance Adviser Dr. Salehuddin Ahmed has expressed optimism that the government will secure lower tariff rates in the US market as efforts continue to reduce the bilateral trade gap. "We're hopeful that the tariff in the US market will reduce further as we're trying our best," he stated. According to Bangladesh Sangbad Sangstha, the Finance Adviser made these remarks while responding to reporters' questions after presiding over meetings of the Advisers Council Committee on Economic Affairs and the Advisers Council Committee on Government Purchase at the Bangladesh Secretariat. Dr. Salehuddin mentioned that the bilateral trade gap with the USA is approximately $6.5 billion to $7 billion and noted the potential for importing essential items from the US. Addressing further questions, Dr. Salehuddin revealed that a Bangladesh delegation, led by the Commerce Adviser, is scheduled to meet with US officials to discuss the tariff issue. The Commerce Adviser is expected to visit the USA next week before Augus t 1 for discussions with the United States Trade Representative (USTR). Dr. Salehuddin emphasized that engaging lobbyists at this stage is unlikely to yield positive results, as decisions are being made swiftly at the highest levels. Dr. Salehuddin also addressed the role of business people in negotiations, stating they will not participate directly. However, he acknowledged the importance of the US private sector and mentioned discussions with the US Chamber of Commerce, which has a favorable impression of Bangladesh. Regarding the outcomes of the day's purchase committee meeting, Dr. Salehuddin reported that the government approved proposals to procure fertilizers such as DAP, TSP, and MOP from various sources, as well as LNG. Additionally, plans were made to import wheat from the USA to diversify import sources and support ongoing tariff negotiations. He highlighted the advantages of US wheat, including higher protein content and lower impurity levels. The Trump administration plans to implement new rec iprocal tariff rates starting August 1, unless an extension is granted. Bangladesh has committed to reducing tariffs on select US goods and increasing imports as part of broader negotiations. The new 35 percent tariff imposed by the Trump administration presents challenges for Bangladeshi exporters, particularly in the garment sector, which exported over $8.2 billion worth of goods to the US last year.
