Tariff cut by US strengthens Bangladesh’s global competitiveness: Bashir

Commerce Adviser Sk Bashir Uddin has said Bangladesh’s adjustment of its reciprocal tariff rate to 20 per cent on products exported to the United States (US) has strengthened its competitiveness in global trade.

“We will be in a competitive position as the US has reduced tariffs on Bangladesh to 20 per cent. So, there is no possibility that our exports to the US will be hampered. However, we expected it to be below 20 per cent,” he said.

The adviser said this in his immediate response securing a landmark trade deal with the United States.

Chief Adviser’s Press Secretary Shafiqul Alam pointed out this reaction in a post on his verified Facebook ID.

The US has reduced its tariff rate on goods from Bangladesh to 20 per cent, a significant reduction from the previous 35 per cent, after a final round of intense negotiations in Washington.

The announcement was made by the White House on Thursday (local time) after the final round of the talks in Washington DC between Bangladeshi officials and the Office of the United States Trade Representative (USTR), the main body responsible for overseeing US trade policy.