Bangladesh Requests Tariff Postponement from US, Proposes Trade Facilitation Measures
The Chief Adviser of Bangladesh's Interim Government, Professor Muhammad Yunus, has sent a letter to US President Donald Trump requesting a three-month postponement of the 37% US reciprocal tariff on Bangladeshi products. To offset the potential impact, Bangladesh proposes tariff cuts on key US exports, including:
● Tariff Cuts: Reducing tariffs on US goods like gas turbines, semiconductors, and medical equipment
● Duty-Free Warehouses: Establishing dedicated bonded warehouses for cotton to improve US market access
● Trade Facilitation: Simplifying customs procedures, rationalizing packaging and labeling requirements, and eliminating certain testing requirements
● Increase US Imports: Boost imports of US agricultural products, such as cotton, wheat, corn, and soybeans
● LNG Deal: Sign a multi-year agreement to import US liquefied natural gas
● Investment Incentives: Encourage US private equity access to Bangladesh's healthcare sector and propose US automakers set up manufacturing plants.
