Staff Reporter :
The Bangladesh Investment Development Authority (Bida) held a meeting with business leaders on Saturday at its office in Dhaka regarding the tariffs US President Donald Trump imposed on Bangladesh exports to the US.
Leading businessmen, including PRAN Group Chairman Ahsan Khan Chowdhury, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) President Mohammad Hatem, BKMEA Executive President Fazlee Shamim Ehsan, and Mohammadi Group Chairperson Rubana Huq, were present at the meeting.
Bida is gearing up to host a major investment summit in Dhaka on 7-10 April, aimed at attracting foreign investments.
After joining the meeting, South Asian Network on Economic Modeling (Sanem) Executive Director Professor Selim Raihan told the media that, “During the meeting, we discussed how Bangladesh can convey a positive message to foreign investors during the summit regarding the Trump administration’s reciprocal duty, in order to encourage them.”
“We also advised the top Bida executives on what actions the government should take immediately,” he added.
Syed Nasim Manzur, president of Leather goods and Footwear Manufacturers and Exporters Association, said, “We discussed how to make the investment summit successful. We also advised on how to address the issue of the US’ reciprocal duty-otherwise, Bangladeshi exporters will lose their competitiveness.”
“It was a brainstorming meeting on how the government can address this duty issue,” he added, noting that the governments of Vietnam and India have already taken initiatives.
“We hope the chief adviser will take a quick decision in this regard,” he said, adding that the business leaders are looking forward to the chief adviser’s meeting this evening regarding the tariff issue.
Earlier on 3 April, US President Donald Trump announced that he will impose reciprocal tariffs to match duties put on US goods by other countries, in a move that ratchets up a trade war that he kicked off on his return to the White House.
During an event in the White House Rose Garden, the US president displayed a poster that listed reciprocal tariffs, including 37 percent on Bangladesh, 26 percent on India, 34 percent on China and 20 percent on the European Union, as a response to duties put on US goods.
Following the announcement of the tariff, the Chief Adviser’s Press Wing said Bangladesh is reviewing its tariffs on products imported from the United States.
Meanwhile, Chief Adviser Muhammad Yunus has convened an emergency meeting with top experts, advisers, and officials at the State Guest House Jamuna on Saturday to discuss the US tariff issue.
