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Bangladesh started the first-day meeting under a scheduled three-day negotiation with the United States Trade Representative (USTR) to secure a fairer deal within July 31 to skip 35-per cent tariffs imposed on products exported to the US market from Bangladesh, effective from August 01, sources said.
The crucial meeting began in Washington, DC, at 12.30 pm US local time on Tuesday between representatives of the commerce ministry of Bangladesh and the USTR.
Commerce Adviser of the incumbent interim government, Sk Bashir Uddin, is leading the Bangladesh side. National Security adviser Khalilur Rahman, commerce secretary Mahbubur Rahman and additional Secretary Nazneen Kawshar Chowdhury were present at the meeting.
They all are optimistic about securing a fairer tariff deal or rate during the tariff talks.
A meeting beyond the schedule is likely to be held on August 01 with the USTR, according to the adviser’s office.
Meanwhile, Bangladesh placed order for the purchase of 25 Boeing aircraft from the US with a view to receiving a fairer tariff rate from the US administration.
Earlier, Bangladesh already inked a deal to import 0.7 million tonnes of US wheat within next five years. Of the volume, in the first year, it will import 0.220 million tonnes of the grain.
According to the Bangladesh import plans -- meant for bridging the bilateral trade gap -- the cost is estimated to come to more than $3.0 billion.
Bangladesh is expected to assure increasing import volume from the US by US$1.5 billion over next one and a half years as part of a tradeoff package for a probable tariff deal in the three-day meet.
A year ago, in the fiscal year 2023-24, Bangladesh's goods worth $7.68 billion were exported. In contrast, Bangladesh imported goods worth $2.5 billion from the country in the fiscal year 2024-25.
The largest single product imported from the United States is iron scraps or iron pieces. And the single-largest export to the US is ready-made garment.
Bangladesh's several businesspersons are now staying in the USA for negotiating with their trade partners. Besides, they will discuss soybean, lentils and wheat-import issues with respective business partners.
A senior commerce official, who is involved with the tariff issue, hopes that the US "may offer good tariff rates in favour of Bangladesh as US President Donald Trump has reduced the additional tariffs on some countries".
On July 07 last, the Trump administration declared a plan to impose 35-percent tariff on products exported to the US from Bangladesh, with effect from August 01.
To this end, US President Donald J Trump sent a letter to the Chief Adviser of the Bangladesh interim government, Muhammad Yunus. The new tariff is 2.0-percent lower than the initially-declared rate of 37 per cent, issued three months ago, dated April 02 last. It was supposed to take effect from April 09.
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