Govt to make decision on US tariff conditions after ministries' opinion
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The interim government will finalise its decision on the conditions related to reducing tariff rates imposed on export products after receiving opinions from the relevant ministries regarding ongoing negotiations with the United States Trade Representative (USTR).
Commerce Secretary Mahbubur Rahman told journalists on Wednesday (16 July) following an inter-ministerial meeting.
He said, “In our ongoing discussions with the United States on the tariff issue, various ministries are involved. Hence, we are gathering their opinions. Once we have them, a final proposal will be prepared and sent for further discussions with the US side.”
Regarding the third round of negotiations, the Commerce Secretary mentioned that the US has not yet provided a specific date. “We are in communication with them about when the next course of action will begin,” he added.
“We are importing many items, including food grains, and each product is subject to separate regulations. We are currently evaluating these,” he added.
Following the three-day second round of discussions with the US, the Ministry of Commerce held inter-ministerial meetings.
As part of this process, the inter-ministerial meeting held at 11 am on Wednesday (16 July) included representatives from 11 ministries, including Finance, Agriculture, Food, Environment, and Energy. Officials from the National Board of Revenue (NBR) and the Bangladesh Trade and Tariff Commission also attended. The meeting was chaired by Commerce Adviser Sheikh Bashir Uddin.
Sources said the US conditions for reducing tariffs were reviewed, and relevant ministries were asked to provide their comments. Similar meetings will be held with other concerned ministries in the coming days.
Bangladesh’s representatives will have to provide feedback on the US conditions during the third round of talks. Before that, a final decision will be submitted to Chief Adviser Dr Muhammad Yunus.
After Wednesday's meeting, Commerce Secretary Mahbubur Rahman said, “This is a process. We need to gather opinions from different ministries, as many issues are involved.”
He added, “These meetings will continue. After consolidating feedback from the ministries, we will finalise a proposal and proceed with further discussions.”
When asked whether a date has been confirmed for the third round of negotiations with the US, the Secretary said, “They have not given us a specific time yet. We are maintaining communication.”
Asked about the specific issues discussed in the meeting, he said, “We import several products from the US, including food items. Various laws and regulations apply in this regard, and we have sought clarification from the relevant ministries.”
“This is a global issue,” he continued. “We are following the same procedures that countries around the world follow.”
It is also understood that while there is a broad consensus on trade-related matters, several non-trade issues remain unresolved in the negotiations between Bangladesh and the US. However, when asked whether any such issues were discussed in Wednesday’s meeting, the Commerce Secretary declined to comment further.