Chief Adviser Professor Muhammad Yunus has formally requested US President Donald J Trump to postpone the implementation of reciprocal tariff measures on Bangladesh for three months, allowing the interim government to execute its trade expansion initiatives smoothly.
In his letter, Prof Yunus emphasized that Bangladesh is the first country to take such a proactive approach, citing High Representative Dr Khalilur Rahman’s visit to Washington DC in February. Since then, both nations have been working closely to finalize specific trade actions.
Bangladesh has also become the first country in the region to enter a multi-year agreement to import liquefied natural gas (LNG) from the US.
A key focus of Bangladesh’s trade strategy is to significantly boost imports of US agricultural products, including cotton, wheat, corn, and soybeans, benefiting US farmers.
Additionally, Bangladesh already maintains the lowest tariffs on US exports within South Asia and is preparing further tariff reductions on gas turbines, semiconductors, and medical equipment.
To enhance trade efficiency, Bangladesh plans to establish duty-free bonded warehouses for cotton, improving supply chain speed.
Prof Yunus also outlined regulatory reforms, such as eliminating certain testing requirements, rationalizing packaging, labeling, and certification standards, and simplifying customs procedures and trade facilitation measures.
In his closing remarks, Prof Yunus assured President Trump that Bangladesh is fully committed to supporting US trade policies.
Meanwhile, a separate letter from Commerce Adviser will soon be sent to the US Trade Representative, detailing specific trade actions undertaken by Bangladesh.
