Amid the possibility of the U.S. imposing higher tariffs on Bangladeshi products, the two nations have initiated a third round of trade negotiations. Discussions began on Tuesday, July 29, at the Office of the U.S. Trade Representative (USTR) in Washington, D.C.
After the implementation of a 35% tariff on Bangladeshi goods and two previously unsuccessful rounds of negotiations, this latest meeting is being viewed as critical. If no agreement is reached by August 1, Bangladesh could face tariffs as high as 50% on exports to the U.S.
Representatives from Bangladesh, attending the talks in the U.S., stated that the core focus this time is the trade deficit between the two countries. Bangladesh has proposed a “package deal” aimed at reducing the imbalance and potentially restoring trade benefits.
Economic advisor Dr. Salehuddin Ahmed commented, “We’ve put forward a balanced proposal to preserve Bangladesh’s market access in the U.S. We hope the U.S. will take a realistic and positive approach.”
Analysts believe failure to reach a timely agreement may severely impact Bangladesh’s key export sectors—especially ready-made garments.