Bangladesh-US second round tariff talks begin amid looming 35% US tariffs

Bangladesh is among the first countries to restart negotiations following the issuance of President Trump's letter to leaders of 14 countries on July 7, Bangladesh Chief Adviser's Press Wing said in a statement on Wednesday.

Commerce Adviser Sheikh Bashiruddin, who is leading the Bangladesh delegation, will participate in person in Washington DC, while National Security Adviser Dr Khalilur Rahman will join virtually from Dhaka. Senior officials, including the Commerce Secretary and an Additional Commerce Secretary, have arrived in Washington, DC, to join the talks, it added.

Bangladesh hopes to build on the progress made during the first round of fruitful negotiations on 27th June and conclude the agreement expeditiously, the statement said.

Earlier on Monday, two days ahead of the deadline day of July 9, US President Donald Trump issued a letter to Bangladesh, hitting them with a tariff of 35 per cent. As per the letter, the tariffs will come into effect from August 1.

"We have had years to discuss our Trading Relationship with Bangladesh and have concluded that we must move away from these long-term and very persistent Trade Deficits engendered by Bangladesh's Tariff and Non-Tariff Policies and Trade Barriers. Our relationship has been, unfortunately, far from Reciprocal. Starting on August 1, 2025, we will charge Bangladesh a Tariff of only 35% on any and all Bangladeshi products sent into the United States, separate from all Sectoral Tariffs Goods transshipped to evade a higher Tariff will be subject to that higher Tariff," the letter read.

"Please understand that the 35% number is far less than what is needed to eliminate the Trade Deficit disparity we have with your Country...If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by, will be added onto the 35% that we charge," it added. (ANI)