Tariff meeting: US great friend; govt optimistic exports to it, other western countries will rise, says CA press secy
Chief Adviser's Press Secretary Shafiqul Alam has said the government is optimistic that exports from Bangladesh to the US and other Western countries would rise.
"The United States is a very good friend of ours. All the issues they have raised will be discussed today. You [journalists] can be sure that Bangladesh's exports to Western countries, including the United States, will increase further. It will not decline," he told reporters in front of the State Guest House Jamuna at 7:30pm this evening (4 April) ahead of Chief Adviser Muhammad Yunus's emergency meeting to discuss the US tariff issue.
Highlighting that the agenda of the meeting is to determine the country's position on the US tariffs, Shafiqul said, "How we will write, what we will say to the US administration will be discussed. The meeting will bring positive decisions. This government is very business-friendly.
Keep updated, follow The Business Standard's Google news channel
"The opinions of businessmen are being given great importance. Because they are the ones who export, not the government. Action will be taken after a thorough analysis of their proposals, which will be very business-friendly."
Top experts, advisers, and officials joined the meeting, including Finance Adviser Salahuddin Ahmed, Commerce Adviser Sheikh Bashir Uddin, Information Adviser Mahfuj Alam, Foreign Adviser Touhid Hossain, Bangladesh Bank Governor Ahsan H Mansur, Chairman of the National Board of Revenue Abdur Rahman Khan, Chief Adviser's Special Envoy Lutfey Siddiqi, Principal Secretary to the Chief Adviser M Siraj Uddin Miah and CA's High Representative Khalilur Rahman.
According to ministry sources, a similar meeting will be held at the Ministry of Commerce tomorrow at 10am with officials from the Bangladesh Bank, National Board of Revenue, Ministry of Foreign Affairs, as well as relevant economists and businesspersons.
Prominent business leaders of the country participated in CA's meeting, along with trade experts. Among those present were Policy Research Institute Chairman economist Zaidi Sattar, and business leaders Nasim Manzur, Ahsan Khan Chowdhury, and Tapan Chowdhury.
CA's press secretary also said following the directive of the chief adviser, Bangladesh Investment Development Authority (Bida) Executive Chairman Chowdhury Ashik Mahmud Bin Harun held a meeting with business leaders today.
At the meeting, business leaders of the country urged the government to take swift action regarding the tariffs US President Donald Trump imposed on Bangladesh exports to the US.
Trump's tariffs
On Thursday (3 April), US President Donald Trump announced that he will impose reciprocal tariffs to match duties put on US goods by other countries, in a move that ratchets up a trade war that he kicked off on his return to the White House.
During an event in the White House Rose Garden, the US president displayed a poster that listed reciprocal tariffs, including 37% on Bangladesh, 26% on India, 34% on China and 20% on the European Union, as a response to duties put on US goods.
Trump also said he would impose a 10% baseline tariff on all imports to the United States and higher duties on some of the country's biggest trading partners.
CA Press Wing's response
Following the announcement of the tariff, the Chief Adviser's Press Wing said Bangladesh is reviewing its tariffs on products imported from the United States.
"The National Board of Revenue is identifying options to rationalise tariffs expeditiously, which is necessary to address the matter," Shafiqul Alam said in a press statement posted on his Facebook just a few hours after the US tariff announcement.
The statement noted that the United States is a close friend of Bangladesh and the country's largest export destination.
"We have been working with the US since the Trump Administration took over to enhance trade and investment cooperation between our two countries. Our ongoing work with the US government is expected to help address the tariff issue," adds the statement.
In response to the US imposing a 37% tariff on Bangladeshi imports, the government plans to revise its import policy by easing non-tariff barriers to facilitate US exports, while CA Yunus remains hopeful of positive progress in resolving the tariff issue through talks with the US government.
Bangladesh will also take steps to simplify investment and business processes while negotiating tariff reductions through bilateral talks with the US and strengthening domestic competitiveness, according to finance and commerce ministry sources.
Finance Adviser Salehuddin Ahmed instructed his ministry's relevant departments to conduct a thorough assessment and take necessary measures.
How Vietnam, Cambodia, others react to US tariffs
Vietnam, Bangladesh's rival in ready-made garment exports, has already written to Trump requesting a three-month suspension of the proposed tariffs and has promised to implement zero tariffs on US goods. Vietnamese leader To Lam also discussed the issue with Trump by telephone yesterday.
After discussing with the Vietnamese leader, Trump wrote on the Truth social platform, "Just had a very productive call with To Lam, general secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the US."
"I thanked him on behalf of our Country, and said I look forward to a meeting in the near future," Trump added.
Vietnam was already preparing to send a mission to the US next week which could seal a deal on the purchase of Boeing planes by a Vietnamese airline, according to a document seen by Reuters.
According to Reuters, the two leaders agreed they will continue talking "to soon sign a bilateral agreement" on tariffs, the Vietnamese government said, adding Trump accepted an invitation to visit Vietnam soon.
Separately, in response to a 49% U.S. tariff on its imports, Cambodia proposed reducing its tariffs on 19 categories of U.S. goods from a maximum of 35% to 5%. This offer aims to initiate discussions beneficial to both nations, especially considering Cambodia's role as a manufacturing hub for American shoe companies.
"Cambodia proposes to negotiate with your honourable administration at the earliest convenient time," Cambodian Prime Minister Hun Manet said in a letter to Trump, reviewed by Reuters.
India and the US have agreed to negotiate a multi-sector Bilateral Trade Agreement (BTA) by fall 2025. The goal is to enhance market access, reduce tariff and non-tariff barriers, and deepen supply chain integration. Commerce and Industry Minister Piyush Goyal's visit to Washington in March 2025 was part of these ongoing discussions.
A CNN report on Friday said President Donald Trump has spoken with representatives from India, Vietnam, and Israel to open talks on trade deals that may ease the impact of tariffs set to take effect next week, CNN reported on Saturday (IST). This outreach marks the first wave of diplomatic engagements since Trump announced blanket tariffs on more than 180 nations and reciprocal tariffs on Thursday.
