STAR BUSINESS REPORT

Bangladesh has begun reassessing its tariffs on American imports in a bid to mitigate the impact on bilateral trade, especially its vital apparel exports to the world’s largest economy.

The move follows US President Donald Trump’s announcement of imposing a 37 percent tariff on Bangladeshi goods.

Shafiqul Alam, press secretary to the chief adviser, yesterday said that the National Board of Revenue (NBR) is swiftly evaluating options to adjust tariffs.

“The US is a close friend of Bangladesh and our largest export destination. We have been working to enhance trade and investment cooperation between our two countries ever since the Trump administration took over,” Alam said in a Facebook statement.

“Our ongoing work with the US government is expected to help address the tariff issue,” he added.

NBR Chairman Abdur Rahman Khan said that officials were examining which US products face duties, their respective rates, and their trade value.

Once the review concludes, discussions will begin, he said, adding that the finance ministry has convened a high-level meeting on Sunday to review the findings and formulate a strategy.

“This is a global concern, and we are also observing how neighbouring nations respond,” Khan said.

He commented that authorities would act promptly with all stakeholders playing their part.

Asked about Trump’s claim that Bangladesh imposes a 74 percent tariff on American goods, the NBR chairman said they are verifying this figure.

“They may have cited only the highest-duty items. We are cross-checking the data,” he added.

Khan informed that tax structures vary from product to product.

“The US might have referenced either peak or average rates. We are now analysing the actual numbers,” Khan said.