US slaps BD with reciprocal import tariffs, latter reviews duties on American goods

Dhaka: Bangladesh is reviewing its tariffs on products imported from the United States, the Chief Adviser's Press Wing said on April 3, hours after President Donald Trump unveiled a 37 per cent reciprocal tariff on the South Asian country.

"The National Board of Revenue is identifying options to rationalize tariffs expeditiously, which is necessary to address the matter," said CA's Press Secretary Shafiqul Alam said in a press statement.

The statement noted that the United States is a close friend of Bangladesh and the country's largest export destination.

"We have been working with the US since the Trump Administration took over to enhance trade and investment cooperation between our two countries. Our ongoing work with the US government is expected to help address the tariff issue," added the statement.

Earlier in the day, US President Trump announced that he will impose reciprocal tariffs to match duties put on US goods by other countries.

According to a list published by the White House, the US government said it was set to levy a 37 per cent "discounted reciprocal tariff" on Bangladesh in response to the Southeast Asian country's "74 per cent tariff" on American goods.

Trump also said he would impose a 10 per cent baseline tariff on all imports to the United States and higher duties on some of the country's biggest trading partners.