TDS Desk:

Commerce secretary Mahbubur Rahman said that Bangladesh has sought time from the US to negotiate on tariff further.

He made the remarks while addressing a press briefing at the conference room of the commerce ministry on Monday.

The briefing was organised on his recent official visit to Washington, DC, for a three-day Bangladesh-United States tariff negotiation.

The commerce secretary in his welcome speech said, “We have return to Bangladesh from the US on Sunday after negotiation on tariff. We have sought time for negotiation for the 3rd term, and we are still exchanging views through e-mail.”

Mahbubur Rahman said, “We have held a meeting with business leaders and economists. We have got advice from them. We hope we will be able to obtain something positive by 1 August.”

Prior to the briefing, commerce adviser Sk Bashir Uddin also attended the meeting with the country’s business leaders and economists.

Mahmud Hasan Khan Babu, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA); Mohammad Hatem, president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA); Anwar-ul Alam Chowdhury Parvez, president of Bangladesh Chamber of Industries; Syed Nasim Manzur, managing director of Apex Footwear; Selim Raihan, executive director of South Asian Network on Economic Modelling (SANEM); M Masrur Reaz, chairman of Policy Exchange Bangladesh; and Mohammad Abdur Razzaque, chairman of RAPID, were present at the meeting. Besides additional secretary Nazneen Kauser Chowdhury was also present.

Ealier, the second round of tariff negotiations between Bangladesh and the US concluded in Washington DC on 11 July 2025, with several issues still unresolved.

On 8 July, US President Donald Trump announced a 35 per cent reciprocal tariff on Bangladeshi goods, which is set to come into effect from 1 August, sparking concern among Bangladeshi exporters with active trade links to the US.

Data from National Board of Revenue (NBR) shows 2,377 companies exported 1-100 per cent of their products to the US during the 2024–25 fiscal.

Among them, 801 companies sent more than 50 per cent of their total exports to the US, making them particularly vulnerable due to their overreliance on a single market.

US total goods trade with Bangladesh was an estimated $10.6 billion in 2024. US goods exports to Bangladesh in 2024 were $2.2 billion, down 1.5 per cent ($34.0 million) from 2023.

US goods imports from Bangladesh totalled $8.4 billion in 2024, up 1.1 per cent ($89.3 million) from 2023. The US goods trade deficit with Bangladesh was $6.2 billion in 2024, a 2 per cent increase ($123.2 million) over 2023, according to the Office of the United States Trade Representative (USTR).

For Bangladesh, export of ready-made garments to US alone accounted USD 7.59 billion in last fiscal.