[🇧🇩] Trump's Victory/Tariff/ Bangladesh

[Saif]

Rehman Sobhan is an old-school Kolkata elite turned Dhaka bigwig.

I don't know if he is on RAW's payroll, but he definitely is a mover and shaker in Dhaka's influential circles and can pull strings in Dhaka.

He is a planted agent of RAW in Bangladesh. He is the guy who proposed the elimination of investment in Textile sector as it was capital intensive. He proposed importing textile from India instead.

 

[Saif]

https://www.thedailystar.net/business/news/trump-tariffs-are-they-really-reciprocal-3863881

Trump tariffs: are they really reciprocal?

The US president issued an executive order on 2 April 2025 to impose reciprocal tariffs, comprising two main actions. First, a 10 percent baseline tariff on all imports—on top of existing tariffs—effective 5 April 2025. Second, country-specific tariffs on imports from 53 targeted countries, effective 9 April. However, if more than 20% of a product's value is of US origin, only the non-US portion will be taxed. There are also exceptions—goods already in transit, items listed in Annex II (e.g., steel, aluminium, automobiles, copper, pharmaceuticals, semiconductors, lumber, critical minerals, and energy products), imports from Belarus, Cuba, North Korea, and Russia, and products from Canada and Mexico under USMCA rules. These actions signify a clear deviation from WTO's most favoured nation (MFN) principle that has been in place since the GATT came into force in 1947.

To understand the rationale behind these tariffs, one must assess the stated objectives and how the so-called "reciprocal tariffs" were determined. According to the executive order, persistent US trade deficits are largely caused by the lack of reciprocity in bilateral trade—especially via disparate tariff rates and non-tariff barriers that disadvantage US manufacturers abroad. The order highlights that the average tariff imposed by the US is considerably lower than that of the EU, India, Brazil, Vietnam, and China. Product-level comparisons show similar results. The order also blames trading partners for blocking multilateral tariff negotiations and maintaining market access barriers that limit US exports.

On 13 February 2025, prior to issuing the order, the president signed a memorandum titled "Reciprocal Trade and Tariffs," directing a review of non-reciprocal trade practices and their links to the trade deficit. The review considered tariffs imposed on US products, discriminatory taxes (like VAT), non-tariff barriers, currency manipulation, and other policies deemed harmful to US competitiveness which apparently led to the current tariff measures.

While the 10% baseline tariff appears aimed at reducing the overall trade deficit, it does not reflect any reciprocal framework. More critically, the way country-specific reciprocal tariffs are calculated raises serious questions. Supposedly, the formula used, estimates tariff rates needed to bring bilateral trade balance to zero. The proposed tariffs are in fact only half of these estimates, termed as "discounted reciprocal tariffs." This approach incorrectly assumes that trade balance is a function of tariff symmetry, ignoring factors such as comparative advantage and service trade.

For example, the US and Israel have had a free trade agreement since 1985, yet the US still runs a goods trade deficit with Israel, while enjoying a surplus in services and investment. It is implausible that Israeli trade practices amount to a 34% tariff burden on US goods. Similarly, US exports to Bangladesh face a 15% import-weighted duty, while US imports face only 3.32% average duty in Bangladesh. No known barrier specifically targets US goods, making the idea of a 74% "reciprocal tariff" on Bangladeshi exports unfounded. The so-called reciprocal tariffs are merely tools to target trade deficits, not measures to reflect actual reciprocity in trade practices.

Dr. Mostafa Abid Khan is former member of Bangladesh Trade and Tariff Commission​

 

[Saif]

https://www.thedailystar.net/business/economy/news/bangladesh-earned-tk-1500cr-tariff-us-imports-fy24-3864346

Bangladesh earned Tk 1,500cr tariff from US imports in FY24

Bangladesh generates a negligible amount of revenue from taxes levied on goods imported from the United States, according to an internal assessment by the revenue board following Washington's announcement of imposing a 37 percent reciprocal tariff on Bangladeshi products entering the US market.

In the July-March period of fiscal year (FY) 2024-25, taxes on US imports brought in just around Tk 1,000 crore -- less than 2 percent of the total revenue collected from all imports during that period.

Bangladesh imported goods worth Tk 22,168 crore from the US during those nine months, with tax receipts from those imports totalling Tk 1,010 crore, according to the National Board of Revenue (NBR).

In contrast, overall revenue from global imports reached Tk 64,439 crore during the period, according to the latest NBR report.

The scenario was similar in FY24, when tax collected from US imports amounted to Tk 1,499 crore against total revenue of Tk 100,819 crore, which was around 1.5 percent of Bangladesh's total earnings from import duties.

The country's import payments stood at Tk 702,230 crore in FY24, of which Tk 28,144 crore went to the US, reflecting only 4 percent Bangladesh's total merchandise imports, according to the Bangladesh Bank data.

In FY23, tax collected from US imports amounted to Tk 1,316 crore.

In the first nine months of the current fiscal year, Bangladesh imported more than 2,200 items from the US, but just 10 of those accounted for over Tk 500 crore in tax revenue.

Among these, motor cars faced the highest total tax incidence (TTI) at 150.76 percent, while chemical wood pulp had the lowest at 20 percent.

Bangladesh has over 7,500 tariff lines, with the highest TTI reaching as much as 1,021 percent.

In terms of value, major imports from the US included ferrous waste and scrap at Tk 202 crore, artificial filament tow of cellulose acetate at Tk 118 crore, and almonds at Tk 55 crore.

The internal NBR exercise was carried out after US President Donald Trump slapped a steep reciprocal tariff on Bangladeshi goods citing widening trade deficits.

The US government claimed Bangladesh effectively imposes a 74 percent tariff on American goods. In response, a 37 percent "discounted reciprocal tariff" will now be levied on Bangladeshi products entering the US market.

However, an NBR official, speaking on condition of anonymity, told The Daily Star yesterday that the average weighted tariff on US imports currently stands at around 3 percent.

"If we include other duties such as supplementary and regulatory duties, the average tariff would be closer to 3.5 percent," added the official.

Another senior NBR official said there is a zero-duty privilege for a number of US items, including cotton, soybeans, liquified natural gas and petroleum products.

"So, the total effective import tax on merchandise goods from the US stands below 5 percent."

According to the revenue official, as the issue centres on reducing the trade deficit with the US, they have selected nearly a dozen items on which import tariffs could be reduced.

"Even if we reduce import duties on certain US items, imports may not increase unless the private sector is willing to source items from the American market. An option could be government purchases to narrow the trade gap," he said.

Similarly, MA Razzaque, chairman of the Research and Policy Integration for Development, a local think tank, dismissed Washington's claim of a 74 percent tariff being imposed by Bangladesh on American products.

"The Trump-era reciprocal tariff formula is completely unscientific and economically irrational," the economist said. "It's methodologically flawed and fundamentally wrong."

Razzaque argued that simply lowering tariffs would not significantly boost US exports to Bangladesh.

"As the US is not a competitive player in the manufacturing sector, simply reducing tariffs won't lead to a significant increase in imports," he commented. "Under the current circumstances, it's very difficult to boost imports from the US."

Razzaque warned against making unilateral concessions. "Bangladesh has a tariff structure for all countries. If we make an exception for the US, other nations like India and Japan may demand the same preferential treatment," he said.

Asked how Bangladesh should respond, he advised initiating discussions with the US and engaging in stronger negotiations.

As of 8pm yesterday, Chief Adviser Professor Muhammad Yunus was at an emergency meeting with leading economists, advisers, and senior government officials to formulate a response.

A source who attended the meeting said the NBR is likely to recommend increasing imports of around 15 products from the US. These include plastic goods, capital machinery, generators, frozen meat, electric bulbs, and cables, among others.

Shafiqul Alam, press secretary to the chief adviser, said the meeting aimed to shape Bangladesh's position on the issue. "We'll discuss how to draft our communication and what exactly to convey to the US administration," he said.

"A positive outcome is expected from the meeting. This government is highly business-friendly. We will take steps that will not only sustain but increase our exports to the US."

Economist Zahid Hussain stated that liberalising tariffs might not lead to significant revenue loss if the reduced tariffs are applied solely on imports from the US. However, this approach could be problematic due to WTO regulations that prohibit rate discrimination based on origin. It may also lead to feelings of discrimination among European and Asian partners.

"Instead of focusing solely on US imports, we should consider revamping the entire protective tariff structure with the aim of lowering the overall nominal protection rate by 10-20 percentage points. Any resulting revenue shortfalls could be compensated through reforms in VAT and income tax."

He also pointed out that reforming non-tariff barriers, which the USTR has identified as significant obstacles to trade in Bangladesh, would not result in revenue loss.

Hussain emphasised the need for a comprehensive reform package that includes measures to reduce tariffs, para-tariffs, and non-tariff barriers.

"Such a package would be seen as a credible tool for reducing the US trade deficit with Bangladesh without diminishing our exports to the US," said Hussain, who is also a former lead economist at The World Bank.​

 

[Bilal9]

He is a planted agent of RAW in Bangladesh. He is the guy who proposed the elimination of investment in Textile sector as it was capital intensive. He proposed importing textile from India instead.

Whoa - I was right all along. Good call and my thoughts exactly! 🙂

 

[Bilal9]

https://www.thedailystar.net/business/economy/news/bangladesh-earned-tk-1500cr-tariff-us-imports-fy24-3864346

Bangladesh earned Tk 1,500cr tariff from US imports in FY24

View attachment 16272

Bangladesh generates a negligible amount of revenue from taxes levied on goods imported from the United States, according to an internal assessment by the revenue board following Washington's announcement of imposing a 37 percent reciprocal tariff on Bangladeshi products entering the US market.

In the July-March period of fiscal year (FY) 2024-25, taxes on US imports brought in just around Tk 1,000 crore -- less than 2 percent of the total revenue collected from all imports during that period.

Bangladesh imported goods worth Tk 22,168 crore from the US during those nine months, with tax receipts from those imports totalling Tk 1,010 crore, according to the National Board of Revenue (NBR).

In contrast, overall revenue from global imports reached Tk 64,439 crore during the period, according to the latest NBR report.

The scenario was similar in FY24, when tax collected from US imports amounted to Tk 1,499 crore against total revenue of Tk 100,819 crore, which was around 1.5 percent of Bangladesh's total earnings from import duties.

The country's import payments stood at Tk 702,230 crore in FY24, of which Tk 28,144 crore went to the US, reflecting only 4 percent Bangladesh's total merchandise imports, according to the Bangladesh Bank data.

In FY23, tax collected from US imports amounted to Tk 1,316 crore.

In the first nine months of the current fiscal year, Bangladesh imported more than 2,200 items from the US, but just 10 of those accounted for over Tk 500 crore in tax revenue.

Among these, motor cars faced the highest total tax incidence (TTI) at 150.76 percent, while chemical wood pulp had the lowest at 20 percent.

Bangladesh has over 7,500 tariff lines, with the highest TTI reaching as much as 1,021 percent.

In terms of value, major imports from the US included ferrous waste and scrap at Tk 202 crore, artificial filament tow of cellulose acetate at Tk 118 crore, and almonds at Tk 55 crore.

The internal NBR exercise was carried out after US President Donald Trump slapped a steep reciprocal tariff on Bangladeshi goods citing widening trade deficits.

The US government claimed Bangladesh effectively imposes a 74 percent tariff on American goods. In response, a 37 percent "discounted reciprocal tariff" will now be levied on Bangladeshi products entering the US market.

However, an NBR official, speaking on condition of anonymity, told The Daily Star yesterday that the average weighted tariff on US imports currently stands at around 3 percent.

"If we include other duties such as supplementary and regulatory duties, the average tariff would be closer to 3.5 percent," added the official.

Another senior NBR official said there is a zero-duty privilege for a number of US items, including cotton, soybeans, liquified natural gas and petroleum products.

"So, the total effective import tax on merchandise goods from the US stands below 5 percent."

According to the revenue official, as the issue centres on reducing the trade deficit with the US, they have selected nearly a dozen items on which import tariffs could be reduced.

"Even if we reduce import duties on certain US items, imports may not increase unless the private sector is willing to source items from the American market. An option could be government purchases to narrow the trade gap," he said.

Similarly, MA Razzaque, chairman of the Research and Policy Integration for Development, a local think tank, dismissed Washington's claim of a 74 percent tariff being imposed by Bangladesh on American products.

"The Trump-era reciprocal tariff formula is completely unscientific and economically irrational," the economist said. "It's methodologically flawed and fundamentally wrong."

Razzaque argued that simply lowering tariffs would not significantly boost US exports to Bangladesh.

"As the US is not a competitive player in the manufacturing sector, simply reducing tariffs won't lead to a significant increase in imports," he commented. "Under the current circumstances, it's very difficult to boost imports from the US."

Razzaque warned against making unilateral concessions. "Bangladesh has a tariff structure for all countries. If we make an exception for the US, other nations like India and Japan may demand the same preferential treatment," he said.

Asked how Bangladesh should respond, he advised initiating discussions with the US and engaging in stronger negotiations.

As of 8pm yesterday, Chief Adviser Professor Muhammad Yunus was at an emergency meeting with leading economists, advisers, and senior government officials to formulate a response.

A source who attended the meeting said the NBR is likely to recommend increasing imports of around 15 products from the US. These include plastic goods, capital machinery, generators, frozen meat, electric bulbs, and cables, among others.

Shafiqul Alam, press secretary to the chief adviser, said the meeting aimed to shape Bangladesh's position on the issue. "We'll discuss how to draft our communication and what exactly to convey to the US administration," he said.

"A positive outcome is expected from the meeting. This government is highly business-friendly. We will take steps that will not only sustain but increase our exports to the US."

Economist Zahid Hussain stated that liberalising tariffs might not lead to significant revenue loss if the reduced tariffs are applied solely on imports from the US. However, this approach could be problematic due to WTO regulations that prohibit rate discrimination based on origin. It may also lead to feelings of discrimination among European and Asian partners.

"Instead of focusing solely on US imports, we should consider revamping the entire protective tariff structure with the aim of lowering the overall nominal protection rate by 10-20 percentage points. Any resulting revenue shortfalls could be compensated through reforms in VAT and income tax."

He also pointed out that reforming non-tariff barriers, which the USTR has identified as significant obstacles to trade in Bangladesh, would not result in revenue loss.

Hussain emphasised the need for a comprehensive reform package that includes measures to reduce tariffs, para-tariffs, and non-tariff barriers.

"Such a package would be seen as a credible tool for reducing the US trade deficit with Bangladesh without diminishing our exports to the US," said Hussain, who is also a former lead economist at The World Bank.​

The tariff thing Trump implemented is not exclusive to us in Bangladesh, and in fact punishes other competitor countries In Asia (who compete on similar exports to the US) similarly or worse. For example, Vietnam tariff rate is higher - as is Cambodia's. Although India's rate is lower than ours, India's exports (apparel-wise) to the US are hardly as wide-ranging as that of Bangladesh. And tariff's on India's Pharma (as well as back office exports) could be punitive as well, which is yet to be announced.

The chickens have come home to roost.

 

[Saif]

The tariff thing Trump implemented is not exclusive to us in Bangladesh, and in fact punishes other competitor countries In Asia (who compete on similar exports to the US) similarly or worse. For example, Vietnam tariff rate is higher - as is Cambodia's. Although India's rate is lower than ours, India's exports (apparel-wise) to the US are hardly as wide-ranging as that of Bangladesh. And tariff's on India's Pharma (as well as back office exports) could be punitive as well, which is yet to be announced.

The chickens have come home to roost.

I think Trump's reciprocal tariff will backfire. The USA needs the rest of the world to maintain economic growth. They alone cannot survive without the help of allies. Hope Trump understands sooner.

 

[Saif]

Bangladesh to write to Trump and US administration on tariffs

In the wake of the reciprocal tariffs imposed by the US President Donald Trump administration, the Bangladesh government will send two letters to the United States within the next 48 hours. One letter from the Chief Advisor will be sent to US President Donald Trump and one letter from the

thefinancialexpress.com.bd

Bangladesh to write to Trump and US administration on tariffs
FE ONLINE DESK
Published :
Apr 06, 2025 18:31
Updated :
Apr 06, 2025 18:31

In the wake of the reciprocal tariffs imposed by the US President Donald Trump administration, the Bangladesh government will send two letters to the United States within the next 48 hours.

One letter from the Chief Advisor will be sent to US President Donald Trump and one letter from the Trade Advisor will be sent to USTR.

The decision was taken at a meeting held at the Finance Ministry's meeting room at the Secretariat on Sunday (April 6).

Chief Advisor's Press Secretary Shafiqul Alam informed reporters after the meeting, according to local media reports.

He said the meeting was attended by four advisors, a high-level representative, a special ambassador, about ten secretaries, and four representatives from big business.

The chief advisor's press secretary said, "We are constantly talking to them (US representatives). In addition to their embassy officials in Dhaka, there are USTR officials. Whatever our decision is, we will give two letters. Both will go within the next 48 hours. One letter will go from our chief advisor to US President Donald Trump. Another letter will go from our trade advisor to USTR."

When asked by journalists what the letter would contain, he said, "Today we discussed what the letter would contain and what kind of language would be used."

Today, there were four advisors, a high representative, a special ambassador, about ten of our secretaries, and four representatives from among the big businessmen. We talked to everyone. After the discussion, it was decided that two letters would be sent within 48 hours.​

 

[Saif]

The future of US-Bangladesh trade

All hell broke loose at Rose Garden on Apr 2 as President Donald Trump unveiled new tariff structure for US trade partners all around the world sparing only 11 countries that includes Russia and North Korea. With new trade regime US aims to topple the age of globalisation- headlined Wall Street Jou

thefinancialexpress.com.bd

The future of US-Bangladesh trade
AL MAMOON
Published :
Apr 06, 2025 15:28
Updated :
Apr 06, 2025 15:32

All hell broke loose at Rose Garden on Apr 2 as President Donald Trump unveiled new tariff structure for US trade partners all around the world sparing only 11 countries that includes Russia and North Korea. With new trade regime US aims to topple the age of globalisation- headlined Wall Street Journal on their coverage of the chaotic Wednesday announcement. Indeed, it is, if the new rates come into play next Wednesday this would be a reversal for human history. It was the painstaking rounds of trade talks in the 80 years after the Second World War that lowered tariffs and led to unprecedented global prosperity, including for America (Zanny M Beddoes, Editor-in-chief, Economist).

The new numbers

The new tariff plan has two levels of levies. First, there will be a 10 per cent tariff on all imported goods across the table (US ports have started collecting it from Apr 5, breaking WTO framework). On top of that there is another double-digit tariff for about 60 countries who sell more to America than they buy from. This second layer of protectionism has erupted debate more than the first as it questions the very fundamentals of trade.

Here is the deal. The difference between goods coming into US and goods going out is divided by the former and then one half of the percentile is slapped as reciprocal tariff. For instance, in 2024 we sold $8.36 million dollar worth of goods and services while imported only $2.21. If the differential $6.15 million is divided by $8.36, one gets 74 per cent. United States Trade Representative (USTR) named it as tariffs charged to US and slapped one half of it (37 per cent) as a generous reciprocal tax. By the same formula some hardest-hit ones are Cambodia (49 per cent), Laos (48 per cent) and Vietnam (46 per cent) and Sri Lanka (44 per cent).

China secures third position in the list of United States’ trade partners only after Mexico and Canada but still could not bend it their way. Against a $143 billion import from US they sent $438.95 billion in 2024. That is a deficit of $295.4 billion. By the new flawed formula tariff slapped on China is 34 per cent. China however has reacted sharply and as this newspaper ran, has slapped back the same rate on China-bound American products.

The rationale behind

The philosophy behind this dubious calculation was the highlight of the 53-minute Liberation Day speech of the president on the White House lawn. He fuelled the ‘Made in America’ slogan and fired the sweeping new duties. Trump accused America’s trading partners of undermining the United States for decades, saying they have engaged in unfair trade practices to steal the country’s wealth and enrich their own economies (Ana Swanson, New York Times).

The unprecedented escalation of tariffs is sure to impact all countries, far and near in manifold ways. On the flip side, Americans will also face price escalation when they go to shop. Groceries, clothing, shoes, electronics - prices of nearly everything will drive up as soon as next week. America does not produce coffee, bananas, or lobster. It imports them. American giants like Nike, Ralph Lauren, Levi Strauss or H&M sources from countries like ours. In the new trade regime, the quality of our products will remain the same bringing us the same dollar amount while the prices skyrocket. This will bleed American people, but the government will bag more money in the borders. The president has a sweetener for this. He equates trade with tax. He thinks, the more America earns from trade the less the citizens need to pay as income tax. There is a 39.5 per cent tax bracket for high earners which can be removed permanently and 37 can stay as interim top and pave the way for further tax cuts.

Trump administration believes, as a mid-term effect companies will come crawling to set up plants in America and fairness will be restored as what has happened since Second World War in the name of global trade has ripped off America.

The silver lining

Some of Trump’s towering rates are imposed on our rivals in the ready-made-garment industry. It is a sigh of relief that we are not being targeted here, it is rather a wholesale action with possible repercussions from all corners of the world.

Second biggest thing is the fragile framing of the whole scheme. The cockamamie calculation is based on the deficit. If the gap narrows, the rates shrink with it, if at some point it is even then there would be no added tariff burden at all. We can work on that right from now.

This week US stock markets suffered their steepest declines since 2020 on fears Trump administration’s heightened tariffs will trigger a trade war globally and eventually drag the US economy into recession.

Our actions and reactions

We as one of the fast-growing trade partners of US (50th out of 233 countries and territories) cannot sit and wait for others to act. No other than the Chief Advisor has met with advisors and trade leaders on Apr 4. That is an excellent headway. Here is our six-point proposition of how we may navigate through in the coming weeks and months:
​

• In Trade and Investment Cooperation Forum Agreement (TICFA) Council meetings between the two governments, Bangladesh has been saying it would welcome more US investment in its Economic Zones. Importing more cotton from US was also a point of discussion for last few years. The new tariff structure keeps room for a reduced rate for goods exported to the US with raw materials imported from US. Hence, cotton can take a central position in lifting our RMG exports and reducing the trade gap.​

​

• The US had been vocal for implementing reforms to improve the investment climate for US-sourced FDI including initiating stakeholders’ consultations on a competitive payment mechanism, insurance market liberalisation and streamlining bureaucratic process for repatriating profits. Immediate past US ambassador to Bangladesh Peter D Huss took up these issues to multiple ministries multiple times, developments are not very visible though.​

​

• The US Trade and Development Agency (USTDA) under its Global Procurement Initiative (GPI) expressed interest in recent past to assess the current Public Procurement Rules (PPR) in Bangladesh. As the guardian of PPR, Implementation, Monitoring and Evaluation Division (IMED) of Ministry of Planning can let them do so. This can have a lasting impact on designing custom capacity building programmes that support the adoption of value-based procurement mechanisms focused on obtaining the highest quality goods and services. Also, our possible new imports under USTDA guidelines can go above and beyond the proposed rates while it works in shrinking the variance.​

​

• Newspapers ran reports on Apr 5 that BIDA and NBR officials detected 30 import items with higher tariffs ranging from 26.2 to 80 per cent while weighted-average tariff for all US goods combined is less than 5.0 per cent. This is a talking point for us. Look, what we have offered you, and what we got in return!​

​

• Revisiting the non-tariff trade barriers is also a must do now. Double fumigation of cotton was such a barrier that took us years to cut down. Outward remittance has slowdown issues. There was never a better time for us to bring regulatory changes and policy support.​

​

• Talks, talks, talks. We should engage at different levels with our counterparts in US – association and chamber level, agency and ministry levels, global forums and civil society level, bilateral or multilateral come what may. There has to be an all-encompassing effort to shake it up, accelerate import leading to an export shoot up, eventually escalating total trade.​

What we should aim at is more trade with America, not the other way round.

The writer is a former commercial counselor at the Los Angeles Consulate​

 

[Saif]

Bangladesh to send two letters to US in next 48 hrs

One letter will be addressed to US president Donald Trump from chief adviser Professor Muhammad Yu

en.prothomalo.com

Bangladesh to send two letters to US in next 48 hrs
Staff Correspondent
Dhaka
Updated: 06 Apr 2025, 19: 39

Press secretary to the chief adviser of the interim government, Shafiqul Alam.File photo

Bangladesh will send two official letters to the United States within the next 48 hours, detailing the interim government’s response to the 37 per cent reciprocal tariff imposed by the Donald Trump administration on Bangladeshi exports.

Shafiqul Alam, press secretary to the chief adviser, made the disclosure at a press briefing on Sunday, after a review meeting at the secretariat.

One letter will be addressed to US president Donald Trump from chief adviser Professor Muhammad Yunus, while the second will be sent to the US trade representative (USTR) from the finance adviser.

The review meeting continued from 3:30 pm to 5:00 pm, with the finance adviser in the chair. Present were four advisers, four business representatives, the chief adviser's high representative on the Rohingya crisis and priority issues, ten secretaries, the central bank governor, the executive chairman of BIDA, and other senior officials.

Responding to a question on the content of the letters, press secretary Shafiqul Alam said, “Discussions are ongoing over the issue. All participants expressed their views in the meeting. Action plans of Bangladesh will be mentioned in the letters.”

He added that the messages will be business-friendly and focused on ensuring mutual benefits for both countries. “The US is the largest market in the world. There is an opportunity to further expand our trade there,” Alam said.

Finance adviser Salehuddin Ahmed disclosed four key issues of the action plan of Bangladesh. Firstly, bilateral trade between Bangladesh and the US will be expanded. Secondly, the capacity of the readymade garments sector in Bangladesh will be enhanced further in comparison with the competitors, so that the US consumers consider the Bangladesh products as superior.

Thirdly, different services should be imported from the US, instead of products only. Fourthly, non-tariff barriers – both official and non-official – with the US will be removed.

Khalilur Rahman, the chief adviser’s high representative, said he spoke to the Bangladeshi ambassador in Washington on Saturday, who had met with the USTR. “The signals received from that office align with Bangladesh’s current approach," he noted, expressing optimism that a response strategy will be finalised within one to two days.

Planning adviser Wahiduddin Mahmud said major economic powers, including China, are also responding to US reciprocal tariffs, and it remains uncertain how the situation will evolve. He assured of efforts to safeguard the country’s prime export product, readymade garments.​