Govt advised to seek deferment of new US tariffs

Local businessmen and researchers have suggested that the government move to request the Trump administration to postpone the decision on counter-tariffs for three months.

They made the recommendation at a meeting held on Sunday with Commerce Secretary Mahbubur Rahman in the chair.

Apex Footwear Managing Director Syed Nasim Manzur, FBCCI administrator Md Hafizur Rahman, Textile Mill Owners' Association (BTMA) President Showkat Aziz Russell, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) President Mohammad Hatem, SANEM Executive Director Dr Selim Raihan, Chairman of research organisation RAPID Dr Mohammad Abdur Razzaque, Chairman of the Policy Exchange Bangladesh (PEB) M Masrur Reaz , among others, were present in the meeting. They said that discussions with the Trump administration on the tariff issue should begin before April 9, 2025 as the new tariff rates will be effective from that date.

According to the meeting sources, businessmen, researchers and economists have advised the government that Trump's counter-tariff issue should not be judged only from an economic perspective. It also involves political perspectives. So, it must be taken seriously and planned and coordinated communication must be established with everyone, starting from the Trump administration to the country's trade organisations and importers of goods.

Trade leaders said exporters were worried about whether the duties would be applicable to products ordered before April 9 and currently in the production stage in Bangladesh. The issue should be discussed with the buyers concerned.

Some researchers said the government needed to work on the tariff issue according to the country's perspective, not other countries' as Bangladesh's economy is different from others'.

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