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Published : 05 Apr 2025, 02:25 PM
Chief Advisor Muhammad Yunus has sat for an emergency meeting amid the traders’ concerns following the United States’ announcement of increased tariffs on Bangladeshi exports.
The meeting began at 7pm on Saturday at the State Guest House Jamuna, according to the Chief Advisor's Office (CAO).
Commerce Advisor Sheikh Bashir Uddin, Finance Advisor Salehuddin Ahmed, Foreign Advisor Touhid Hossain, NBR Chairman Abdur Rahman Khan, Bangladesh Bank Governor Ahsan H Mansur, Chief Advisor’s High Representative Khalilur Rahman, Special Envoy Lutfey Siddiqi, Principal Secretary Siraj Uddin Mia, BIDA Executive Chairman Chowdhury Ashik Mahmud Bin Harun, secretaries of the respective ministries and experts attended the meeting.
Earlier, in the evening, Chief Advisor’s Press Secretary Shafiqul Alam expressed hope at the Jamuna that Bangladesh's exports to the US and Europe would increase due to the government's positive decision.
He said the BIDA executive chairman had held a meeting with the traders on Saturday at Yunus’s direction over the imposition of new US tariffs on Bangladeshi products.
Trade experts were also present at the meeting. The recommendations made by the traders will be presented in the meeting with the chief advisor, he added.
Earlier this week, US President Donald Trump announced a new set of supplementary tariffs on imports from more than 100 countries. As a result, Bangladeshi exports to the US will now face a 37 percent supplementary tariff.
Previously, the average tariff on Bangladeshi goods in the US stood at 15 percent.
With the new imposition, the total tariff on Bangladesh’s exports to the US will rise to 52 percent.
The US is Bangladesh’s largest export market for ready-made garments. In 2024, Bangladesh exported around $8.4 billion worth of goods to the US, including $7.34 billion in garments alone.
Industry leaders are warning that the new tariffs could severely impact Bangladesh’s garment sector, a cornerstone of the country’s economy.
Yunus, however, has expressed optimism that a positive outcome to the ongoing tariff dispute with the United States could be reached through discussions.
