Unilateral Urging: Bangladesh Seeks Trade Relief from US President
Professor Dr. Muhammad Yunus, the Chief Adviser to Bangladesh, has requested US President Donald J. Trump to delay the implementation of countervailing duties on Bangladesh's exported goods for a period of three months.
The letter was sent on Monday, April 7, as per a statement from the Chief Adviser's press wing.
In the letter, Dr. Yunus, who is also a Nobel laureate, appealed to the United States to grant Bangladesh some time to increase imports and reform its tariff structure to foster a balanced commercial relationship. He also highlighted that the Bangladesh government is working to reduce tariffs by 50% on major US export products such as gas turbines, semiconductors, and medical equipment, and is aiming for zero tariffs on US agricultural products and scrap metals.
The letter further mentioned, “We have already completed the necessary steps to launch Starlink in Bangladesh. This internet speed will usher in a new era of American business in Bangladesh, particularly in advanced technology sectors such as civil aviation and defense.”
Shafiqul Alam, the press secretary for the Chief Adviser, confirmed the matter at a press conference on the investment conference. He mentioned that the letter will soon reach President Trump.
The letter continues, “We assure you that Bangladesh will take all necessary steps to fully implement your trade agenda. After your announcement, I sent my senior representative to Washington, D.C. to significantly increase American exports to Bangladesh, a rapidly growing market of 170 million people. We are the first country to take such a positive initiative.”
It also states, "We are the first country to sign a long-term contract to import Liquefied Natural Gas (LNG) from the United States after the suspension of export duties. Our officials have been working since then to identify specific action plans to rapidly increase American exports to Bangladesh. Our trade advisor will work to strengthen bilateral ties with the US Trade Representative."
The letter further outlines the focus of the action plan, which includes significantly increasing imports of American products such as cotton, wheat, corn, and soybeans, contributing to the income and livelihood of American farmers. To boost the cotton market in the US, Bangladesh is finalizing bonded warehousing facilities, which will offer duty-free access to US goods.
Dr. Yunus concludes the letter with optimism, stating, "We are hopeful to complete ongoing and planned action plans within the next three months. Kindly provide us the necessary time to implement these vital tasks by consulting with US officials. I sincerely request that the mutual tariffs on Bangladesh's exports to the United States be suspended for three months. I sincerely hope that you will honor this request."
