Dhaka-Washington tariff deal can be changed or cancelled by the next government: Adviser Khalilur

Bangladesh has negotiated an agreement with the US government with the provision that the next elected government could make required changes or cancel any, said National Security Adviser to the interim government Dr Khalilur Rahman.

He said the negotiations, which are still going on, are based on three principles.

"We are negotiating with President Trump's government an agreement that is revocable," he said while addressing the welcome reception programme by the Bangladesh Textile Mills Association (BTMA).

BTMA organised the welcome reception at Gulshan Club on Sunday in the city to congratulate the Bangladesh team led by Commerce Adviser Sk Bashir Uddin that successfully negotiated to reduce the reciprocal tariff to 20 per cent from 35 per cent.

"...We have negotiated on three principles," Mr Rahman said, explaining the first is that they are not an elected government and they are not going to obligate the next government.

"The next government must have the power to make changes, modifications, or cancel."

The second is that they take the responsibility they can fulfil, he said, adding that if they fail to meet any commitments, the US will cancel this agreement and charge Bangladesh 37 per cent tariffs.

"Third, this is a bilateral agreement. We cannot do this with any third country. We do not want to get into any geopolitical trap," he said.

He, however, hinted that the tariff might go down further for Bangladesh.

Speaking there, Commerce Adviser Sk Bashir Uddin said they committed to the US authorities that the trade deficit would be reduced by 75 per cent in a year.

He said if needed they will go to the US after two or three weeks, as the negotiation is still continuing.

The fascist government has left the legacy of a 'time-bound time bomb' in the name of LDC graduation, he said, terming it one of the major challenges.

"Next challenge is LDC graduation, which is bigger than Trump tariff," he said, calling on all businesses and stakeholders to sit together to devise an action plan to face the challenges with strong leadership.

Speaking there, BTMA president Showkat Aziz Russell said that following the successful negotiation with the United States regarding reciprocal tariffs, Bangladesh is now in a stronger position.

As a result, the country's exporters are receiving more inquiries from buyers, he said.

"We want to invest further... now is the high time to invest in the textile sector," he said.

BGMEA president Mahmud Hasan Khan and BKMEA president Mohammad Hatem, among others, spoke there.

Munni_fe@yahoo.com