Dhaka: Finance Adviser Dr. Salehuddin Ahmed today expressed his optimism for favorable outcomes from the upcoming one-on-one negotiation meeting with the United States Trade Representative (USTR) in the USA. “After the meeting scheduled for today (July 8) in the USA (early morning in Bangladesh on July 9), we will be able to know about the further developments on the tariff issue,” he commented while addressing reporters after chairing sessions of the Advisers Council Committees on Economic Affairs and Government Purchase at the Bangladesh Secretariat.
According to Bangladesh Sangbad Sangstha, Dr. Salehuddin mentioned that US President Donald J. Trump had sent a letter to the Chief Adviser concerning the tariff issue. However, Bangladesh’s discussions will be held directly with the USTR to finalize the tariff agreements. The US president’s letter is part of a broader initiative targeting 14 countries, including Bangladesh.
Dr. Salehuddin emphasized that the final tariff rates would be determined through direct negotiations with the USTR, with the current rates not yet finalized. The Bangladeshi delegation, led by the Commerce Adviser and supported by the Commerce Secretary, is en route to the USA to address concerns, including President Trump’s proposal of a 35 percent tariff on Bangladeshi goods.
The Finance Adviser remains hopeful for a positive outcome from these discussions. “No matter whatever happens, we’ll set our future course of actions,” he stated. Previous meetings between Bangladesh and the US were described as positive.
Dr. Salehuddin also highlighted the disparity in trade deficits, noting that while Bangladesh’s trade deficit with the USA is approximately $5 billion, Vietnam’s is around $125 billion. Despite this, the USA has offered tariff concessions to Vietnam. Bangladesh aims to continue negotiating for similar concessions.
On domestic issues, Dr. Salehuddin reported that the National Board of Revenue (NBR) operations were moderate in the last fiscal year, with no significant gaps noted. For the current fiscal year, the government intends to implement systemic improvements to enhance revenue collection.
Regarding inflation, Dr. Salehuddin shared encouraging news, highlighting a significant reduction in food inflation last month. He anticipates that inflation will continue to decline in the coming months, with non-food inflation showing a gradual decrease across various sectors.
The day’s meetings also addressed critical topics such as the import of LNG, school shelters in Gaibandha, and fertilizer imports.