Dhaka is proposing to buy Boeing planes and boost imports of US wheat, cotton and oil in a bid to reduce the trade deficit, which Trump used as the reason for imposing painful levies in his “Liberation Day” announcement.
Rahman said a meeting between officials from both countries was slated for July 8, with the United States representing 20 percent of Bangladesh’s ready-made garments exports.
Trump hit Bangladesh with 37 percent tariffs in his April 2 announcement, which is more than double the 16 percent already placed on cotton products.
Bangladesh exported $8.36 billion worth of goods to the United States in 2024, while imports from there amounted to $2.21 billion, according to the Bangladesh Bank and the National Board of Revenue.
“As part of the initiative to reduce the trade gap, the government already decided to import a large volume of wheat, purchasing 14 aircraft from US manufacturer Boeing, buying cotton and more oil and gas from the US farms,“ Rahman said.
Interim leader Muhammed Yunus spoke to US Secretary of State Marco Rubio on Monday and told him Dhaka was “working with your officials to finalise a package of measures to effectively respond to President Trump’s trade agenda”.
“The already enacted additional 10 percent tariff is hitting our exporters, and if it goes further, we might lose US buyers,“ he warned.
“We are hopeful of a positive outcome on the US tariff before July 9,“ he said.
“There will be a temporary problem if the US administration does not revise the tariff. But it will largely and ultimately hit the US buyers, as they would have to buy goods at higher prices.”
Read More Details
Finally We wish PressBee provided you with enough information of ( Major garment producer Bangladesh eyes US trade deal )
Also on site :