Tariff cut to 20pc is satisfactory: Amir Khasru
Former commerce minister and Bangladesh Nationalist Party (BNP) standing committee member Amir Khasru Mahmud Chowdhury has termed the reduction of US-imposed reciprocal tariffs on Bangladeshi products from 35 per cent to 20 per cent as "satisfactory".
"This is not a matter of victory or defeat. Given the current rate, we are in a relatively satisfactory position. Ours is at 20 per cent, Pakistan’s at 19 per cent, Vietnam’s also at 20 per cent, and India’s at 25 per cent," said Khasru while speaking to the media at his residence in Gulshan on Friday afternoon.
He further commented, "Considering the overall tariff figures, I believe it is a satisfactory rate for competition. Compared to our competitors, this is acceptable."
However, referring to the broader context behind the new tariff rate, Amir Khasru said, "We have no idea about all the issues of the negotiation… All we know is the tariff figure. I can comment after learning the whole issue. Without knowing what was exchanged in return, we cannot say its impacts.”
We have no idea about all the issues of the negotiation… All we know is the tariff figure. I can comment after learning the whole issue. Without knowing what was exchanged in return, we cannot say its impacts.Amir Khasru Mahmud Chowdhury, Former commerce minister and BNP standing committee member
He noted that the revised rates appear to be part of a broader restructuring of the US reciprocal tariff system, which is applicable to many of its trade partners. For example, Sri Lanka's rate was reduced (from 30 per cent) to 20 per cent, and Pakistan’s (from 29 per cent) to 19 per cent. For Vietnam and India, the current tariff rates stand at 20 per cent and 25 per cent, respectively.
In response to a question, the BNP leader said negotiation comes as a package. Multiple decisions have been taken here, rather than the tariff only. Once the US demands and all issues of the deal are published, they will be able to understand its full impact.
Asked whether Bangladeshi exporters can now feel some relief from earlier uncertainty surrounding the US tariff decision, Amir Khasru replied, “As I have said, for now, the 20 per cent tariff will not immediately hinder our export market. So at this moment, it seems like a satisfactory decision. But we do not know the associated factors yet. Once we do, we will be able to comment further.”