Decisions Made At Emergency Meeting On US Tariffs

Business

Decisions Made At Emergency Meeting On US Tariffs

Author

Chief Advisor High Representative Dr. Khalilur Rahman spoke to reporters after an emergency meeting on the US tariff issue at the State Guest House Jamuna on Saturday (April 5) night. The meeting was chaired by Chief Advisor Dr. Muhammad Yunus.

Dr. Khalilur Rahman said that the US tariff increase is not a sudden event, so there should be no panic about it. He also said that a new decision on the tariff will be taken after discussing with the US.

Trade Advisor Sheikh Bashir Uddin said that Bangladesh had already discussed the tariff issue with the US in February, and now there is a possibility of getting positive results after reviewing it. He said that communication with all levels of the US government will continue and efforts are being made to reduce the trade deficit.

He also said that the trade deficit with the US will be reduced by increasing imports and the tariff increase is not sudden for Bangladesh, so the risk of loss is low.

In addition, the trade advisor said that Bangladesh's main competitor's tariffs have also increased, so Bangladesh will not face any loss due to the US tariff policy. On the contrary, the diversification of Bangladesh's ready-made garment industry will open the way for new possibilities.

Present at the emergency meeting were Finance Advisor Salehuddin Ahmed, Power, Energy and Mineral Resources Advisor Fawzul Kabir Khan, Foreign Affairs Advisor Towhid Hossain, Trade Advisor Sheikh Bashir Uddin, Special Envoy of the Chief Advisor Lutfe Siddiqui, BIDA Chairman Ashiq Chowdhury, Bangladesh Bank Governor Ahsan H Mansur, Principal Secretary to the Chief Advisor Siraj Uddin Mia, Principal Coordinator for SDG Affairs of the Chief Advisor Lamia Morshed, Finance Secretary Dr. Khairuzzaman Majumder, NBR Chairman Abdur Rahman and Policy Research Institute (PRI) Chairman Zaidi Sattar.