The United States has given a positive signal to reducing the 35% countervailing tariffs imposed on Bangladeshi goods, following the first day of the third round of bilateral tariff negotiations held in Washington on Tuesday.
Although the exact scale of the tariff reduction is yet to be finalized, Bangladesh’s Commerce Secretary Mahbubur Rahman told Ajker Patrika early Wednesday (Bangladesh time) that US officials from the United States Trade Representative (USTR) office have shown a green light to lowering the tariffs. “We’ve received indications that the countervailing duties imposed on us will be reduced, but discussions are still ongoing,” he said.
The Bangladesh delegation is being led by Commerce Adviser Sheikh Bashir Uddin, with National Security Adviser Khondaker Khalilur Rahman, Commerce Secretary Mahbubur Rahman, and Additional Secretary Nazneen Kauser Chowdhury in attendance.
The US delegation is headed by Assistant USTR Brendan Lynch. The Bangladesh Embassy in Washington is coordinating the discussions.
Press Minister of the Bangladesh Embassy, Golam Mortoza, informed Ajker Patrika around 3:15 AM Wednesday (Bangladesh time) that “talks are ongoing, and significant progress has been made. The US has agreed on most issues, but two more days of negotiations remain. Nothing is final yet.”
Ahead of the talks, Bangladesh initiated efforts to reduce its trade deficit with the US by planning large-scale imports. Government plans include importing $1.5 billion worth of goods from the US within the next year, including wheat, lentils, and liquefied natural gas (LNG).
A government-to-government agreement has already been signed to import 700,000 tonnes of wheat, with another proposal to import 2.2 million tonnes approved. Bangladesh is also considering the purchase of 25 Boeing aircraft and additional LNG imports.
Meanwhile, private sector stakeholders are also stepping in. Representatives from top Bangladeshi importing companies—such as TK Group, Meghna Group, and City Group—alongside Bangladesh Textile Mills Association (BTMA) President Shawkat Aziz Russell, are visiting the US to explore purchase agreements with American exporters.
According to the Commerce Secretary, combined government and private efforts could raise Bangladesh’s imports from the US by up to $3 billion over the next 12 to 18 months, though these plans are still under discussion.
