Salehuddin Eyes Stronger Tariff Deal in Upcoming US Meeting
Finance Adviser Dr Salehuddin Ahmed today expressed his high optimism to get a much better result during the one-to-one negotiation meeting with the USTR in the USA. "After the meeting scheduled for today (July 8) in USA (early morning in Bangladesh on July 9), we will be able to know about the further developments on the tariff issue," he said replying to queries of reporters after chairing two separate meetings on the Advisers Council Committee on Economic Affairs and the Advisers Council Committee on Government Purchase at Bangladesh Secretariat here. Dr Salehuddin said US President Donald J. Trump has sent a letter to the Chief Adviser on the tariff issue, but the Bangladesh delegation will hold meeting with the USTR. "Only then we will be able to know on the matter in details." He said the US president has issued such letters to some 14 countries while Bangladesh is one of those countries.
"The final tariff will be fixed in the one-to-one negotiation with the USTR. That's why we will have our meeting with them (USTR), the rate is not final yet...," he told reporters. Asked about the Trump's plan to impose 35 percent tariff on Bangladeshi goods, the Finance Adviser said that the Bangladesh delegation is there headed by the Commerce Adviser while the Commerce Secretary will be heading today to the USA. Replying to a question, he said that definitely they are hopeful of getting a better result in the meeting. "No matter whatever happens, we'll set our future course of actions..." He informed that the last meeting between the Bangladesh and US sides was positive. The Finance Adviser said although the US President has sent a letter to the Chief Adviser, but it would be finalized through one to one negotiations. Replying to another question on reduction of 26 percent US tariff on Vietnam, he said it is true that Bangladesh's trade deficit with the USA is only around $5 billion whereas Vietnam's trade deficit with the USA is $125 billion.
He said the USA has agreed to give concession to Vietnam, but Bangladesh's trade deficit with the USA is so small. "We're trying our best in this regard," he said adding that such letters have so far been sent to 14 countries. "But, we'll negotiate further," On the operations of the NBR, he said that the revenue collection in the last fiscal year (FY25) was moderate while there was no such gap. In the current fiscal year, the Finance Adviser said the government is focusing on bringing positive changes into the system in consultation with the businessmen to avert leakage in revenue collection. "The potentials in revenue collection are very high, but we often fail to utilize those properly," he added. On inflation, the Finance Adviser said that good news is that the food inflation has reduced significantly last month although rising inflation was a big challenge for the country. "Thanks to our efforts, the food inflation has declined."
"And we are hopeful that the inflation will be on the declining trend in the coming months. The non-food inflation is gradually declining since there are so many sectors," he added. The adviser informed that the day's meetings focused on the import of LNG, school shelters in Gaibandha and import of fertilizer.
