Bangladesh is reviewing its tariffs on products imported from the United States, said CA’s Press Secretary Shafiqul Alam.
Bangladesh response came up hours after President Donald Trump unveiled a 37% reciprocal tariff on Bangladeshi products.
“The National Board of Revenue is identifying options to rationalise tariffs expeditiously, which is necessary to address the matter,” said CA’s Press Secretary Shafiqul Alam said in a press statement posted on his Facebook post this morning.
The statement notes that the United States is a close friend of Bangladesh and the country’s largest export destination.
“We have been working with the US since the Trump Administration took over to enhance trade and investment cooperation between our two countries. Our ongoing work with the US government is expected to help address the tariff issue,” adds the statement.
Earlier in the day, US President Trump announced that he will impose reciprocal tariffs to match duties put on US goods by other countries.
According to a list published by the US, the Trump administration said it was set to levy a 37% “discounted reciprocal tariff” on Bangladesh in response to the Southeast Asian country’s “74% tariff” on American goods.
As per the list, the Trump administration is also set to impose a 26% reciprocal tariff on India, 34% on China and 20% on the European Union, as a response to duties put on US goods.
“It’s our declaration of independence,” Trump said at an event in the White House Rose Garden.
According to the poster he displayed at the event, among the other Asian countries Pakistan will face a 29% reciprocal tariff, Myanmar 44%, Vietnam a staggering 46%, Taiwan 32%, Cambodia 10%.