Finance Adviser Dr Salehuddin Ahmed has expressed hope that the United States will reduce the tariff rates recently imposed on Bangladeshi products.
He said the Commerce Adviser is set to travel to the US with a delegation before August 1 to hold discussions on the matter.
Speaking to reporters after the meeting of the Advisers’ Council Committee on Public Purchase and the Advisers’ Council Committee on Economic Affairs at the Secretariat on Wednesday, July 23, Dr Salehuddin shared updates on key economic decisions and ongoing trade concerns.
The adviser said the meeting approved several major import initiatives aimed at ensuring national supply stability including 1,50,000 tonnes of fertiliser, including urea and TSP, to support the upcoming agricultural season; importing LNG to meet growing energy demands, and importing 2.5 million tonnes of wheat, with an emphasis on diversifying import sources.
On wheat imports, the Finance Adviser explained: "We want to diversify our supply chain. There has been uncertainty in the Russia-Ukraine region in the past. We are currently in negotiations with the United States to increase our purchases. US wheat is of high quality."
When asked whether the price of American wheat is relatively higher, he acknowledged: "Even if the price is slightly higher, we gain on other fronts. The protein content is a bit better - not dramatically high, but noticeably higher - which is beneficial for flour quality."
With just eight days remaining before the new US tariffs take effect, journalists questioned whether further talks were planned.
Salehuddin confirmed, "The Commerce Adviser will visit the United States before August 1 to discuss the issue."
"We hope that, even if the tariffs are implemented, they will be reduced to some extent – given that our trade deficit with the US is relatively small, at around $6.5 billion," he added.
In response to business leaders’ calls for appointing lobbyists in Washington to influence the tariff decision, the Finance Adviser was dismissive.
"There’s no point in appointing lobbyists in this case," he said. "Lobbying is effective in long-term negotiations. This situation requires quick action, and by the time a lobbying office becomes operational, the window for impact will have closed. We’re not in a phase where formal negotiations are ongoing."
Instead, he emphasised Bangladesh’s strong reputation in the US: "We have a positive image in America. Recently, we’ve settled outstanding dues with major US companies like Chevron, Accelerate Energy, and MetLife. The US Chamber of Commerce even wrote to me, expressing a favourable view of Bangladesh’s economic direction."
As Bangladesh navigates shifting global trade dynamics, the government remains focused on diplomatic engagement, strategic imports, and maintaining its credibility in international markets.
With high-level talks on the horizon and a strong case for tariff moderation, the coming days could bring relief for exporters – and a renewed push for balanced, mutually beneficial trade with the United States.