Bangladesh may see further reductions in the additional 20 percent countervailing tariffs imposed by the United States if it succeeds in narrowing the trade deficit between the two countries, said Commerce Adviser Sheikh Bashiruddin.
He made the remarks on Sunday afternoon after a meeting with Brendan Lynch, assistant US trade representative for South and Central Asia, at the Ministry of Commerce conference room.
“The U.S. delegation has arrived in Dhaka on a three-day visit to finalise a bilateral trade agreement based on discussions and mutual understanding regarding countervailing tariffs,” Sheikh Bashiruddin told reporters.
“Our discussions were cordial. If we can reduce the trade deficit with the US, there is a strong possibility of tariff cuts,” he added.
The adviser also noted that a reciprocal tariff agreement between Bangladesh and the US could be reached soon.
During the talks, progress was reviewed on US commitments to increase purchases from Bangladesh to help narrow the deficit.
These include agricultural and energy products, as well as aircraft purchases, he said, adding that “good progress has been made on procurement discussions.”
Commerce Secretary Mahbubur Rahman and National Skills Development Authority Chairperson Nazneen Kauser Chowdhury were also present at the meeting.
LND/SAE
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