NBR to decide response to 37pc US counter-tariff at meeting today
Business Report :
The National Board of Revenue (NBR) is set to convene a meeting today (Sunday) to determine its course of action in response to the recently imposed 37% counter-tariff by the United States under the Trump administration.
According to officials, the NBR is currently evaluating whether there is any scope for reducing customs duties on imports from the US as a reciprocal move.
Last Thursday, US President Donald Trump announced a 37% tariff on Bangladeshi exports, along with similar measures targeting several other countries. The decision reportedly targets nations with which the US maintains a significant trade deficit.
US authorities have cited trade barriers-including elevated tariffs imposed by other countries on American goods-as one of the key contributors to this deficit.
In response, the NBR has launched a comprehensive review. NBR sources say that Bangladesh imports approximately 2,500 products from the United States each year. Officials are now examining the current customs duties on these items to assess whether any reductions are feasible.
Beyond customs duties, the NBR is also reviewing other applicable taxes on US imports, including VAT, supplementary duties, regulatory duties, and advance taxes.
“A working group has already been formed to evaluate the overall implications of the US tariff hike and explore policy alternatives,” said a senior NBR official.
“We are also looking into the possibility of reducing duties and taxes on selected US goods and services.”
However, another official pointed out that any changes in duties must comply with international classification standards. “Adjustments in duty rates cannot be made based solely on a product’s country of origin.
Such changes must adhere to the Harmonized System (HS) Code classification and would therefore apply uniformly to all countries exporting those products,” the official explained. According to NBR data, Bangladesh imported goods worth $2.62 billion from the United States in 2024, spanning 2,515 items under the HS Code system.