Following an emergency meeting convened by Chief Adviser Prof Muhammad Yunus on the issue of newly imposed US tariffs, Commerce Adviser Sk Bashir Uddin on Saturday assured that there is no cause for alarm, as the chief adviser himself will engage directly with the Trump administration on the matter.

“The chief adviser is undoubtedly our greatest asset, and we intend to leverage his international credibility to communicate with the US administration,” he stated.

Commenting on the development, the commerce adviser noted that the new US tariffs present both challenges and opportunities for Bangladesh.

He added that the interim government is actively working to explore potential benefits and address the trade imbalance with the United States by increasing imports of necessary products such as soya bean oil, yarn, metal scraps, industrial machinery, and fuel, in a bid to position Bangladesh more favourably compared to competing nations.

In response to a journalist’s question, the adviser further stated that the government is also committed to addressing non-tariff barriers to bolster trade with the US.

During the press briefing, Chief Adviser’s High Representative Dr Khalilur Rahman said he has been engaged in communication with the US administration since February this year to address issue.

He reassured that Bangladesh has nothing to worry about the US tariffs.

On Saturday, the chief adviser held an emergency meeting with leading experts, advisers, and senior officials, issuing key directives on managing the US tariff issue.

The high-level meeting took place at the State Guest House Jamuna and began around 7:30pm.

Among those present at the meeting were Foreign Affairs Adviser Md Taouhid Hossain, Information Adviser Mahfuj Alam, Energy and Railways Adviser Muhammad Fouzul Kabir Khan, High Representative to the Chief Adviser Dr Khalilur Rahman, Special Envoy Lutfey Siddiqi, Bangladesh Bank Governor Dr Ahsan H Mansur, and NBR Chairman Abdur Rahman Khan.

Also in attendance were BIDA Executive Chairman Lokman Hossain Miah, Policy Research Institute Chairman Dr Zaidi Sattar, Finance Secretary Khairuzzaman Mozumder, the Chief Adviser’s Press Secretary Shafiqul Alam, and Lamiya Murshed, Principal Coordinator for SDG Affairs at the Chief Adviser’s Office.

According to meeting sources, the chief adviser issued specific instructions to initiate the necessary procedures for engaging with the Trump administration to seek a reduction in the newly imposed tariffs. A decision was also made to formally write to the White House, urging reconsideration of the tariff measures.            

Sources from the Ministry of Commerce indicated that a follow-up meeting is scheduled for 10am on Sunday, involving representatives from Bangladesh Bank, the National Board of Revenue, the Ministry of Foreign Affairs, as well as economists and business leaders, to implement the Chief Adviser’s directives and discuss the broader implications of the US tariffs.

Earlier in the evening, the Chief Adviser’s Press Secretary Shafiqul Alam told reporters that Bangladesh remains a business-friendly nation and expressed optimism that exports to the United States would continue to grow.

“You can rest assured that Bangladesh’s exports to Western countries, including the United States, will not decline — they are expected to increase,” he said.

He added that the interim government would undertake pragmatic measures to boost export volumes to the US market.

The imposition of new US tariffs poses a significant threat to Bangladesh’s key export sectors — particularly ready-made garments and pharmaceuticals — which play a vital role in the country’s economy.

As the United States targets major trading partners, experts have warned of a potential decline in demand and intensifying global competition, potentially undermining Bangladesh’s position in international trade. Economists and industry leaders are now urging swift negotiations and strategic responses to safeguard economic stability amid the growing trade conflict.

Officials stated that the National Board of Revenue (NBR) is currently reviewing whether there is any scope to lower customs duties on US imports as a reciprocal measure.

On 3 April, US President Donald Trump announced a 37% tariff on Bangladeshi exports, alongside tariffs on imports from several other countries. Speaking at an event in the White House Rose Garden, President Trump revealed a poster listing retaliatory tariffs, including 37% on Bangladesh, 26% on India, 34% on China, and 20% on the European Union. He also announced a 10% baseline tariff on all imports to the US, with additional duties on major trading partners.

According to US officials, these measures are aimed at addressing the country’s trade deficit, which they attribute in part to trade barriers and high tariffs imposed on American goods by other nations.

In response, the NBR has initiated a comprehensive review. Sources within the NBR stated that approximately 2,500 products are imported annually from the United States. Officials are now assessing the current customs duties on these items to determine whether adjustments can be made.

Following the US tariff announcement, Shafiqul Alam wrote on his verified Facebook account: “Bangladesh is reviewing its tariffs on products imported from the United States. The National Board of Revenue is identifying options to rationalise tariffs expeditiously, which is necessary to address the matter. The United States is a close friend of Bangladesh and our largest export destination.”

“We have been working with the US since the Trump administration took office to enhance trade and investment cooperation between our two countries. Our ongoing collaboration with the US government is expected to help address the tariff issue,” he added.

Meanwhile, the country’s business leaders have urged the government to respond promptly to the new US tariffs. The call was made during a meeting held at the Bangladesh Investment Development Authority (BIDA) office in the capital.

Leading business figures, including PRAN Group Chairman Ahsan Khan Chowdhury, BKMEA President Mohammad Hatem, BKMEA Executive President Fazlee Shamim Ehsan, and Mohammadi Group Chairperson Rubana Huq, were among those in attendance.