Economists and local businesses, along with the US, are being consulted by the Ministry of Commerce before the commencement of the third round of tariff negotiations.
In a strategic move to address the ongoing tariff deadlock with the United States, the Commerce ministry of Bangladesh has been actively seeking feedback and support from American companies doing business within the country, as well as local business leaders and economists.
The focus of the current preparations revolves around **finalising Bangladesh's negotiating position for the third round of tariff talks with the US Trade Representative (USTR)**. A significant inter-ministerial meeting, chaired by Commerce Adviser Sheikh Bashir Uddin, was held on July 16, 2025, which included representatives from 11 ministries and relevant departments.
Key discussion points included reviewing the US conditions on the proposed reduction of steep tariffs, evaluating the potential impact on domestic producers, gathering diverse opinions, planning regular follow-up meetings, and consolidating feedback to form a proposal. The aim is to ensure a well-coordinated and protective stance during the upcoming negotiations.
Commerce Secretary Mahbubur Rahman emphasised that the decision-making process cannot rest solely with the commerce ministry due to the interconnected nature of trade issues. He further highlighted the importance of careful coordination among all concerned parties.
Bangladesh has sought clarification from the US regarding tariff issues but has yet to receive a response on when to formally submit its proposal. Preparations for the third round of talks have intensified since the return of Commerce Adviser Sheikh Bashir Uddin from the second round of discussions.
The ministry is also seeking input from US and local businesses for the upcoming talks. As part of these efforts, virtual meetings are scheduled with the US Soybean Export Council (USSEC) and the American Apparel and Footwear Association (AAFA), which represent American companies that import soybeans and ready-made garments and footwear from Bangladesh, respectively.
It is important to note that Bangladesh is a major importer of soybeans from the US, and Vietnam, another key competitor of Bangladesh in apparel exports, initially faced a 32% duty, which was later lowered to 19%. India, another competitor, is now expecting its duty to fall below 20%.
As the third round of US tariff talks approaches, Bangladesh's policymakers are working diligently to navigate the complexities of international trade and protect the interests of domestic producers while maintaining positive relationships with key trading partners.
In the preparations for the third round of tariff talks with the US Trade Representative (USTR), various departments are collaborating to consolidate feedback from American companies in finance and industry, as well as local business leaders and economists. The aim is to ensure a well-coordinated and protective stance during the negotiations, with input also being sought from US businesses, such as the US Soybean Export Council and the American Apparel and Footwear Association.
Politics and general news are closely following Bangladesh's efforts, as the country navigates the complexities of international trade with the US, aiming to protect the interests of domestic producers while maintaining positive relationships with key trading partners.
