US trade deal under review; no comment yet on new tariff Commerce Minister
Business Desk :
Commerce Minister Khandaker Abdul Muktadir yesterday said the United States tariff issue remains as an “evolving scenario,” stressing that Bangladesh has yet to receive any official written communication from Washington regarding the newly announced measures.
Briefing reporters after a meeting with business leaders from various sectors at the Commerce Ministry at Bangladesh Secretariat, the minister said the tariff situation has undergone significant changes following a ruling by the US Supreme Court.
The remarks came after the Supreme Court of the United States declared the retaliatory tariffs imposed by President Donald Trump illegal, prompting him to announce new global tariffs.
Muktadir said the US initially declared a 10 per cent tariff for all countries, later raising it to 15 per cent. However, Bangladesh has yet to receive any official written communication from Washington. “We are hearing announcements through different channels, but nothing has come officially. Under US law, the relevant legal provisions require congressional approval within 150 days. So the scenario is still evolving.”
The Ministry of Commerce held the meeting to determine the next course of action regarding the tariffs and the trade agreement.
State Minister for Commerce Md Shariful Alam, Commerce Secretary Mahbubur Rahman, senior government officials, and business representatives attended the meeting.
The minister said the US tariff issue remains evolving. “The US Supreme Court has declared the previously imposed tariffs not maintainable, and a 10percent tariff has since been imposed on all countries,” he said.
“We are hearing announcements through various channels but have not received anything in writing through official means.
Under Section 122 of US law, the measures must be approved by the US Congress within 150 days. Beyond that, whatever we are seeing is on television. No official documents have reached us. So I would again say the scenario is evolving,” he added.
Referring to the trade agreement signed earlier, he said it is still not at a stage where comments can be made.
“We are examining its pros and cons. It is normal for any agreement to have both advantages and disadvantages. We are reviewing those aspects and will decide the next course of action,” he said.
Responding to a question on whether the previous interim government kept the agreement confidential or rushed the process, he said non-disclosure agreements were in place during the negotiations.
He added that business representatives were invited to discuss the tariffs and the agreement, including sector-specific concerns.
