Bangladesh remains optimistic about striking a tariff agreement with the United States that will serve the interests of both nations, Press Secretary Shafiqul Alam said Tuesday, following a letter from US President Donald Trump to Chief Adviser Professor Muhammad Yunus outlining steep new tariffs.
Speaking in Dhaka, Alam confirmed that another round of high-stakes negotiations is scheduled for July 9 in Washington, where Commerce Adviser Sk Bashir Uddin will lead the Bangladeshi delegation, joined by National Security Adviser Dr Khalilur Rahman.
“We are hopeful of reaching a tariff arrangement that creates a win-win situation for both countries,” Alam said. His remarks came a day after Bangladesh formally received President Trump’s letter notifying Dhaka that from August 1, the US will impose a flat 35 percent tariff on all Bangladeshi goods entering the American market.
President Trump, in his letter to Professor Yunus, described the new tariff as “only 35 percent”—arguing it is still less than what would be needed to fully offset the trade imbalance. He also hinted the tariff could be adjusted up or down, contingent on Bangladesh’s willingness to open its markets and remove existing trade barriers. “If you wish to eliminate your tariff and non-tariff policies and trade barriers, we will, perhaps, consider an adjustment,” Trump wrote.
He further noted that companies choosing to manufacture within the United States would face no such tariffs and promised streamlined regulatory approvals. “You will never be disappointed with the United States of America,” Trump added.
The looming tariff has sparked alarm among Bangladesh’s business leaders, especially given the country’s heavy reliance on garment exports to the US, its largest market. Mohiuddin Rubel, a prominent exporter and former BGMEA director, told UNB that the proposed duties pose a serious threat to employment and economic stability.
“A 35 percent tariff could be devastating, especially for our apparel sector,” Rubel said. He pointed out that Vietnam, despite running a larger trade surplus with the US, secured a lower 20 percent tariff—suggesting Bangladesh’s existing trade barriers may have hurt its position at the negotiating table.
“The immediate concern is job losses. We need urgent engagement with US importers, aggressive diplomacy, and smart partnerships to safeguard our industries,” Rubel said, calling for strategic negotiations and rapid high-level discussions.
The new tariffs are part of a broader push by the Trump administration to recalibrate America’s trade relationships. A White House fact sheet claimed President Trump is “the best trade negotiator in history,” stressing his determination to tackle what he views as long-standing imbalances that disadvantage US workers and businesses.
Countries seen as unwilling to address their own trade barriers are now facing what the White House termed “consequences.” On July 7, Trump signed an executive order extending the lifespan of certain tariffs, setting them to expire on August 1, 2025, and simultaneously rolling out a raft of new reciprocal duties on countries including Japan (25%), Korea (25%), South Africa (30%), Malaysia (25%), Indonesia (32%), and Thailand (36%).
Bangladesh, facing one of the highest proposed rates at 35 percent, is now scrambling to navigate the fallout. Officials hope upcoming talks in Washington could yield a compromise that preserves crucial market access for Bangladeshi goods while addressing US concerns.
Despite the challenging outlook, Press Secretary Alam struck an upbeat note: “We are entering these discussions with a constructive spirit, aiming to secure an outcome that is fair and beneficial for both Bangladesh and the United States.”
