Dhaka, Aug 06 (V7N) – Interim government Finance Advisor Dr. Salehuddin Ahmed has said that the ongoing negotiations over US counter-tariffs are bound by a non-disclosure agreement and cannot be made public at this stage. He emphasized that this is a bilateral agreement, not a multilateral arrangement under the World Trade Organization (WTO).

Speaking to reporters after a meeting of the Procurement Advisory Council at the Secretariat on Wednesday afternoon, Dr. Salehuddin explained that competing countries must be taken into account, and for strategic reasons, specific details cannot be revealed at this time.

"It would have been better if the tariffs were a little lower," he admitted. "But even then, Bangladesh is in a better position compared to some others. The agreement has not yet been finalized. Once it is, we will know what adjustments are required and whether any room for compromise exists."

The finance advisor also highlighted that Bangladesh’s economy has reached a stable and comfortable position within one year of the interim government’s administration. On the issue of inflation, he remarked, "Inflation can’t be brought down overnight — it's not like pulling a horse’s bridle."

On the upcoming national elections, Dr. Salehuddin said that the Election Commission (EC) will submit its budgetary demands, and the required funds will be provided. However, he declined to specify an amount until formal requests are received.

Tariff Tensions with the United States

The advisor's comments come amid rising concern over the 20% counter-tariff rate imposed by the United States on imports from Bangladesh, effective from midnight Thursday. This includes an additional 16.5% duty already in place, bringing the total to 36.5% on affected goods.

According to officials, the U.S. Trade Representative (USTR) is currently preparing a draft agreement regarding the tariff issue. Once completed, it will be sent to Bangladesh’s Ministry of Commerce for review. After mutual consent, a formal agreement will be signed in the United States on a scheduled date.

Despite the tariff hike, the finance advisor expressed cautious optimism, suggesting there could be room for negotiation once the full details of the agreement are made available.

END/RH/AJ