Professor Dr. Muhammad Yunus, the interim government’s chief adviser, called an emergency meeting on Saturday night at the State Guest House Jamuna with advisers, economists, experts, and pertinent government officials in response to the recent increase in U.S. tariffs on Bangladeshi goods.
Following the meeting, Dr. Khalilur Rahman, the Chief Adviser’s High Representative, addressed reporters, reassuring them that the tariff hikes were anticipated and not an unexpected development. He emphasised that there was no need for panic, as Bangladesh plans to engage in constructive discussions with the US to address the issue.
Trade Adviser Sheikh Bashir Uddin highlighted that the Government had already initiated talks regarding the tariff situation back in February and is now optimistic about receiving a favorable response after further review. He noted that officials are in continuous communication with various levels of the US Government and intend to expand these efforts.
Uddin also mentioned that Bangladesh is working to reduce its trade deficit with the US by increasing imports and asserted that the risk of significant harm from the new tariffs remains low. “Our Chief Adviser, Dr. Muhammad Yunus, will directly communicate with the US administration. We are in discussions with the relevant departments in the US to determine our next steps,” he stated. He added that the Government is striving to improve its competitive position relative to other countries.
Moreover, Uddin pointed out that since the US has also raised tariffs on Bangladesh’s export competitors, the country is unlikely to suffer adverse effects from the new policy. Instead, he suggested that the situation could present new opportunities, particularly given the diversity of Bangladesh’s ready-made garment products.
