Bangladesh is hopeful of securing tariff concessions from the United States after President Donald Trump announced plans to reduce the additional tariffs on Vietnamese goods from 46 per cent to 20 per cent. The move has prompted Bangladesh officials to engage in high-level negotiations with US representatives, aiming to obtain favorable treatment for its exports.
Following a virtual meeting with US officials on Thursday (July 3), Commerce Secretary Mahbubur Rahman conveyed confidence that Bangladesh would benefit from lower tariffs than Vietnam. He indicated that the US is considering special treatment for Least Developed Countries (LDCs), which could favor Bangladesh, as Vietnam is not classified as an LDC.
“The United States is considering separate treatment for LDCs. Since Vietnam is not an LDC, Bangladesh is likely to receive special benefits,” Rahman said in a phone interview with TBS.
The Bangladesh delegation, led by Commerce Adviser Sk Bashir Uddin, who traveled to Washington, and with prior discussions involving National Security Adviser Khalilur Rahman, is actively negotiating reciprocal tariffs. The US is expected to soon send a tariff schedule detailing rates on various goods, which will inform further talks scheduled tentatively for July 8, 9, or 10.
This development comes as the US’s temporary suspension of tariffs, imposed on April 2, is set to expire on July 9. The government has asked US officials whether tariffs might be reintroduced and was told that, given ongoing discussions, they hope tariffs will not be applied to Bangladeshi exports.
Once the tariff schedule is received, Bangladesh’s commerce ministry plans to consult with the National Board of Revenue and the Bangladesh Trade and Tariff Commission before participating in the next round of negotiations, which may see the commerce secretary attending in person.
Earlier, during a June 26 meeting, the US Trade Representative had declined Bangladesh’s proposals to cap tariffs at 10 per cent, indicating ongoing negotiations continue to be challenging.
As the deadline approaches, Bangladesh remains optimistic about securing tariff benefits that could bolster its export sector amid evolving US trade policies.
