Finance Adviser Salehuddin Ahmed on Tuesday expressed optimism that Bangladesh could get a much better deal through one-on-one negotiations with the United States Trade Representative (USTR), reports BSS.
His comments came in response to a letter sent by US President Donald Trump to Chief Adviser Muhammad Yunus on Monday, announcing that Bangladeshi goods seeking entry to the US would be subject to a 35% percent tariff.
"After the meeting scheduled for today in the US, we will be able to know about further developments on the tariff issue," he told reporters after chairing two separate meetings on the Advisory Council Committee on Economic Affairs and the Adviseory Council Committee on Government Purchase at the Bangladesh Secretariat.
Salehuddin said Trump had sent a letter to the Chief Adviser on the tariff issue while the Bangladesh delegation is still engaged in meetings with the USTR.
"Only then [after negotiations conclude] we will be able to know the matter in detail."
He said the US president has issued such letters to some 14 countries.
"The final tariff will be fixed following one-on-one negotiations with the USTR. That's why we will have our meeting with them (USTR), the rate is not final yet...," he told reporters.
Asked about Trump's plan to impose a 35 percent tariff on Bangladeshi goods, the finance adviser said that a Bangladesh delegation was already in the US, headed by the commerce adviser, while the commerce secretary will be heading to the USA today.
He added that they were hopeful of getting a better deal through the meeting. "No matter what happens, we'll set our future course of action..."
He informed that the last meeting between the Bangladesh and US sides was positive.
Replying to a question about Vietnam's successful tariff negotiations, he said Bangladesh's trade deficit with the USA is only around $5 billion, whereas Vietnam's trade deficit with the USA stands at $125 billion. He highlighted that the US agreed to give concessions to Vietnam despite their deficit balance being much larger.
"We're trying our best in this regard," he said. "But we'll negotiate further."
Queried about inflation, the finance adviser said that the good news is that food inflation reduced significantly last month.
"We are hopeful that inflation will be on a declining trend in the coming months," he added.
The adviser informed that the day's meetings focused on the LNG and fertiliser imports as well as school shelters in Gaibandha.
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