In a letter to US President Donald Trump today, Chief Adviser Professor Muhammad Yunus asked him to delay the imposition of a 37 percent duty on Bangladeshi goods in the US market.
BSS received confirmation from the Chief Adviser’s Office (CAO).
According to a statement released by the Chief Adviser’s Press Wing, Chief Adviser Prof. Yunus wrote to US President Donald J. Trump asking him to delay the implementation of US reciprocal tariff measures on Bangladesh for three months so that the interim government can successfully carry out its plan to significantly boost US exports to Bangladesh.
“We are the first country to take such a pro-active initiative”, he said in his letter, citing the visit of High Representative Dr Khalilur Rahman to Washington DC in February.
Ever since, the two sides have been working closely to identify specific actions.
Additionally, Bangladesh is the first nation to sign a multi-year contract to buy US-sourced liquefied natural gas.
In order to help US farmers, Bangladesh’s main goal is to greatly expand its imports of US agricultural products like cotton, wheat, corn, and soybeans.
In South Asia, Bangladesh has the lowest tariffs on the majority of US exports.Additional tariff reductions on US goods, including popular exports like gas turbines, semiconductors, and medical equipment, are being formulated, according to Chief Adviser Prof. Yunus.
Bangladesh will build dedicated duty free bonded warehouses for cotton to improve US market.
“We are eliminating certain testing requirements, rationalising packaging, labelling and certification requirements and undertaking trade facilitation measures such as simplifying customs procedures and standards,” the Chief Adviser added.
“Bangladesh will take all necessary actions to fully support your trade agenda”, Prof Yunus assured President Trump.
A separate letter detailing the actions of Bangladesh will be sent by the Commerce Advisor to the US Trade Representative soon, the statement read.
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