Chief Adviser Professor Muhammad Yunus has addressed a letter to US President Donald J Trump, requesting him to postpone the application of US reciprocal tariff measures on Bangladesh for three months, said Azad Majumder, deputy press secretary to the chief adviser.

The time is needed to allow the interim government to smoothly implement its initiative to substantially increase US exports to Bangladesh, he told The Daily Star.

"We were the first country to take such a proactive initiative," the chief adviser said in his letter, citing the visit of High Representative Khalilur Rahman to Washington, DC, in February.

Since then, the two sides have been working closely to identify specific actions.

Read more

Take steps to tackle new US tariffs

The chief adviser, in the letter, also requested reconsideration of the reciprocal tariff for Bangladesh.

"I write to assure you that we in Bangladesh will take all necessary actions to fully support your trade agenda," Yunus said in the letter seen by The Daily Star.

"Shortly after your inauguration, I sent my High Representative to Washington, DC, to indicate our intent to substantially increase American exports to the fast-growing Bangladesh market of 170 million people," the chief adviser said.

The commerce adviser will coordinate with the US Trade Representative about the details of Bangladesh's actions, the chief adviser mentioned in the letter.

A key focus of action for Bangladesh is to significantly increase imports of US farm products, including cotton, wheat, corn, and soybean, which will contribute to the income and livelihood of US farmers, the chief adviser said.

"To increase speed to market for US cotton, we are finalizing a dedicated bonded warehousing facility in Bangladesh where they will have duty-free access," he said.

"You will also be happy to know that Bangladesh has the lowest tariff on most US exports in the South Asian region. We continue to commit to zero tariffs on the above American agricultural commodities, as well as on scrap metals. We are working on a 50% reduction of tariffs on top US export items such as gas turbines, semiconductors, and medical equipment," he added.

"We are also removing an array of non-tariff barriers to US exports. We are eliminating certain testing requirements, rationalizing packaging, labeling, and certification requirements, and undertaking trade facilitation measures such as simplifying customs procedures and standards," he added.

Yunus said Bangladesh has executed the necessary steps to launch Starlink in Bangladesh.

Read more

Bangladesh earned Tk 1,500cr tariff from US imports in FY24

This momentum ushers in a new era for US businesses in Bangladesh across a number of advanced tech sectors, including civil aviation and defense, the letter also said.

"We will complete the ongoing and planned actions within the next quarter. Please allow us the necessary time to smoothly implement this important work in consultation with US officials."

"I would, therefore, like to request you to kindly postpone the application of the reciprocal tariff measure on Bangladesh exports to the US for three months. I most sincerely hope that you will grant this request. Please accept, Mr. President, the assurances of my highest consideration," Yunus said.

A separate letter detailing the actions by Bangladesh will be sent by the commerce adviser to the US Trade Representative soon, the chief adviser's deputy press secretary said.