Bangladesh should not be overly concerned about potential reciprocal tariffs from the United States, said Dr Debapriya Bhattacharya, Distinguished Fellow at the Centre for Policy Dialogue (CPD), on Saturday.
Speaking at a seminar titled “U.S. Reciprocal Tariff and Way Forward for Bangladesh”, Dr. Bhattacharya asserted, “I say this with responsibility. The impact of the tariffs is also affecting our competitor countries. As a result, we are not losing too much in comparative competition.”
The seminar was jointly organised by the Dhaka Chamber of Commerce and Industry (DCCI) and Business Initiative Leading Development (BUILD), and held at DCCI’s Motijheel headquarters. Dr. Debapriya presented the keynote paper.
Describing the US counter-tariff regime as a “toxic tariff treatment,” he said the measures under the new US administration appear more politically motivated than economically sound.
He questioned the effectiveness of President Trump’s counter-tariff policy, expressing doubt that it would deliver on its intended goals, or be readily accepted by the market.
According to Debapriya, the policy is flawed in its reliance on goods trade deficits as the basis for imposing duties, overlooking the rapid expansion of the global service sector.
He also noted the instability caused by annual tariff adjustments, which he said discourages investment.
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Debapriya urged policymakers to treat this challenge as an opportunity to implement long-overdue trade and policy reforms.
Commerce Secretary Md Mahbubur Rahman said Bangladesh is now prioritising bilateral discussions with the US rather than relying solely on multilateral forums. Bangladesh believes it is currently on the right diplomatic and trade path, which is why it has not tabled any formal proposal at the World Trade Organization (WTO), he added.
Mahbub revealed that talks are ongoing with the US on 100 specific Bangladeshi products, including a review of how US imports from third countries are accounted for in trade figures.
He warned that if the US does not accept Bangladesh's position, the country may revise its import policies—possibly banning imports from those third countries. Such a policy already applies to certain automotive imports.
He also pointed to recent steps to reduce trade barriers, including the scrapping of unnecessary radioactivity tests.
Special guests at the seminar included Mahbubur Rahman, President of the International Chamber of Commerce (ICC) Bangladesh, and Moinul Khan, Chairman of the Bangladesh Trade and Tariff Commission.