US, Bangladesh to hold tariff talks again as certain issues remain unresolved

Certain issues remain unresolved in discussions over tariff waivers for Bangladeshi products in the US market. After three days of talks, the two sides could not reach consensus on a number of points. As a result, Bangladesh and the United States will hold further discussions on the matter.

The Bangladesh Embassy in Washington issued a statement in this regard today, Saturday.

According to the statement, on the third and final day of the second round of trade talks, the two countries reached agreements on several additional points. However, some issues remain unresolved. While both sides engaged in negotiations and counterarguments, full agreement could not be reached on certain matters.

Both parties have concluded that internal inter-ministerial consultations are necessary before representatives from the two countries meet again. The next round of talks may take place both virtually and in person. The date and time for the next meetings are expected to be finalised soon.
It has been learned that the Bangladesh delegation, led by the trade adviser, is returning home and will return to Washington if necessary.

Following the three-day discussions, trade advisor Sheikh Bashiruddin and security advisor Khalilur Rahman expressed optimism that a positive outcome could be reached within the designated timeframe.
The Bangladesh side was led by trade advisor Sheikh Bashiruddin. National security advisor Khalilur Rahman and the chief advisor’s special assistant,

Fayez Tayyab, joined the talks virtually from Dhaka. Other senior government officials and experts also participated virtually.
US President Donald Trump in April announced increased tariffs on products from 57 countries, including Bangladesh. The tariff rate for Bangladesh was fixed at 37 per cent. Bangladesh promptly initiated discussions with the US for tariff reductions. At one point, the US suspended the tariff implementation for 90 days. That suspension was set to expire on 9 July.

However, on 7 July, President Trump announced a new round of increased tariffs on products from 14 countries, including Bangladesh. In this round, the tariff rate for Bangladesh was set at 35 per cent. The two countries began a three-day round of talks on the increased tariffs last Wednesday.