Business community has expressed satisfaction over negotiation progress with the United States (US) on reciprocal tariff imposed by US President Donald J. Trump.

The government is treating the tariff negotiations with the United States as a top priority, they said. 

The members of the business community today made the observation at a press briefing held at the Ministry of Commerce’s conference room in Bangladesh secretariat after a meeting with Commerce Adviser Sk Bashir Uddin and senior officials of the Ministry of Commerce. 

Ministry of Commerce organised the meeting with economists, business leaders, exporters, and traders to take preparation for the next round of negotiations with the United States Trade Representative (USTR) on reducing tariffs on Bangladeshi exports.

At the press briefing, Sk Bashir Uddin said he is confident that Bangladesh would be able to continue business in the US market with its current capabilities.

“We hope the US will set tariffs at a rational level. Preparations are underway for the third phase of negotiations with the US on reciprocal tariffs, with a formal request already made for a timeline,” he added.

Bashir said he hopes the United States would confirm the schedule for the next round of discussions within the coming week.

Commerce Secretary Mahbubur Rahman said the issue of reciprocal tariffs has serious implications for Bangladesh, and the government is working on it at the highest level. 

"Some steps have already been taken, and more actions will follow. We've now consulted with the stakeholders and gathered their opinions," he added.

Mahbubur also said, "We are prepared. Whatever issues arise in the future, we will address them through dialogue with the United States."

Speaking on behalf of the business community, BKMEA President Mohammad Hatem expressed satisfaction with the government's briefings on the progress made so far.

He hoped that a good decision would come from the next round of negotiations.

US President Donald J. Trump sent a letter on Monday to Chief Adviser of the interim government Professor Dr. Muhammad Yunus, announcing to impose a 35 percent tariff on Bangladeshi products.

In the letter, Trump stated that from August 1, Bangladeshi goods entering the United States would be subjected to such 35 percent tariff.