Desk Report,
Bringing the tariff rate to 20 percent is a satisfactory situation: Amir Khasru
Former Commerce Minister and BNP Standing Committee member Amir Khasru Mahmud Chowdhury sees the reduction of the US counter-tariff on Bangladeshi products from 35 percent to 20 percent as ‘satisfactory’. He said, ‘It is not a matter of victory or defeat. We are in a relatively satisfactory position in the competition with the tariff that has been set. We are 20 percent, Pakistan 19 percent, Vietnam 20 percent, India 25 percent.’
Bringing the tariff rate to 20 percent is a satisfactory situation: Amir Khasru
Amir Khasru Mahmud Chowdhury expressed this opinion in a response to journalists at his residence in Gulshan on Friday afternoon. He said, ‘In that case, I think that overall the tariff figure is satisfactory in terms of competition. What has happened with our competitors in terms of tariffs is right. It is satisfactory.’ However, the former Commerce Minister said, ‘We do not know the overall situation of the entire negotiation. We only know about the tariff. We can comment on this after knowing the overall situation. Until we know what else has to be paid in return for it (tariffs), we cannot say what its impact will be.’
The BNP leader said that the new rate revision comes as part of a larger restructuring of the US counter-tariff structure, which seems to apply to many of the country’s trading partners. For example, the rate for Sri Lanka has been reduced to 20 percent (previously it was 30 percent), Pakistan’s rate has been reduced to 19 percent (previously it was 29 percent). For other competitors of Bangladesh, such as Vietnam and India, the tariff rates are currently 20 percent and 25 percent respectively.
In response to a question, Amir Khasru said, ‘The issues behind the negotiations… this is a package. Many decisions have been made here. It has not been decided just by what percentage the tariff has been reduced. There was a lot of discussion behind this decision, what can the Americans send? We will understand what their demands were in different areas when these issues are revealed.
When asked whether Bangladeshi businessmen were in a state of uncertainty over the imposition of additional tariffs by the United States, whether they feel relieved now or not, the former commerce minister said, “I am saying that the imposition of a 20 percent tariff for the time being will not hinder our export market, at least for the time being. So it is a satisfactory decision at the moment. However, we do not know the issues involved in it. When we know them, we will be able to comment.”
Recently, the commerce secretary said something about buying 25 Boeing aircraft from the United States. When asked whether he was indicating any relationship between this and the tariff, Amir Khasru said, “No, something has to be done. Because, the whole issue of the tariffs by the Americans is in the interest of exporting American products. That is why this additional tariff has been imposed. “But in doing that, how much Bangladesh can absorb, how much our economy can absorb, how much our businessmen can absorb, how much our economy can absorb, those are matters for discussion. We will be able to comment on that when we know the details.”
