Tariff talks between Bangladesh and US end without conclusion

"The two countries have agreed on some more issues on the third and final day of the second round of trade talks. However, some issues still remain unresolved. Both sides have decided that inter-ministerial talks will continue between them. Then representatives of the two countries will sit down for talks again," Bangladesh Chief Adviser's Press Wing said in a statement on Saturday.

"The discussion can be held both virtually and face-to-face. It is expected that the time and date will be fixed very soon. The Trade Advisor, Secretary and Additional Secretary will return to the country tomorrow. If necessary, they will go again," it added.

"Following three days of talks, Commerce Adviser Sheikh Bashir Uddin and Security Adviser Khalilur Rahman are optimistic that a positive position can be reached within the stipulated time," the statement said.

Commerce Adviser Sheikh Bashir Uddin leads the Bangladeshi side. National Security Advisor Dr Khalilur Rahman and Special Assistant to the Principal Advisor Faiz Tayyab participated virtually from Dhaka. High-ranking government officials and experts were also present virtually.

Earlier, two days ahead of the July 9 deadline, US President Donald Trump issued a letter to Bangladesh, imposing a 35 per cent tariff. According to the letter, the tariff will take effect on 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 per cent on any and all Bangladeshi products sent into the United States, separate from all Sectoral Tariffs. Goods trans-shipped 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)