Commerce Secretary Mahbubur Rahman: Major Success in Reducing US Reciprocal Tariffs

Mahbubur Rahman, Commerce Secretary of the Government of the People’s Republic of Bangladesh, announced a significant achievement in reducing the reciprocal tariffs imposed by the United States. Initially facing a 37% tariff, through sustained negotiations and diplomatic efforts, Bangladesh was able to bring it down to 20%. While the government is not fully satisfied with the outcome, Bangladesh’s position is considerably more favorable compared to competing countries.

He made these remarks on Sunday, August 10, at a reception organized by the Bangladesh Textile Mills Association (BTMA) at Gulshan Club Limited.

The Commerce Secretary said, “The US announced tariffs against 154 countries, including Bangladesh. Immediately after the announcement, the government took swift action and, in consultation with business organizations, professionals, and research institutions like CPD, developed a negotiation strategy.”

He added, “This success came through four phases of discussions with the US. With unwavering support from business organizations such as BTMA and BGMEA, even better results can be achieved in the future.”

Mahbubur Rahman also stated that the government always stands by the country’s business community and continues to work for trade and economic development.

The event was attended by National Security Adviser Khalilur Rahman, Additional Secretary of the Ministry of Commerce and WTO Division Chief Dr. Naznin Kawser Chowdhury, BTMA President Shawkat Aziz Russell, BGMEA President Mahmud Hasan Khan, and other senior officials and business leaders.