Written by The Banking Post
The government is closely monitoring the evolving tariff measures of the United States and reviewing the bilateral trade agreement before making any decision, Commerce Minister Khandaker Abdul Muktadir said on Wednesday.
Speaking to reporters after a meeting with business leaders at the Ministry of Commerce, the minister described the situation as “still evolving,” particularly following a recent ruling by the US Supreme Court that declared the reciprocal tariffs imposed by President Donald Trump illegal.
He said the US administration later announced a fresh 10 per cent tariff on all countries, which was subsequently revised to 15 per cent. However, Bangladesh has yet to receive any formal written communication from Washington.
“So far, we have only learned about these announcements through various channels. No official documents have reached us at the government level,” he said, adding that under US law, certain provisions require congressional approval within 150 days.
In this backdrop, the Ministry of Commerce convened a meeting with representatives from different business sectors to assess the implications of the new tariff measures and the trade agreement signed between Bangladesh and the United States by the previous government.
The minister said the agreement is now under review. “We are examining its pros and cons. Any agreement has two sides. After careful assessment, we will determine the next course of action,” he noted.
Responding to questions about the negotiation process, he said some non-disclosure agreements were involved due to the sensitivity of the matter. “The country we signed the agreement with is very important to us. In such an evolving situation, making unwarranted comments would not be appropriate,” he added.
State Minister for Commerce Md Shariful Alam, Commerce Secretary Mahbubur Rahman, senior officials and business leaders attended the meeting, where sector-specific concerns were discussed in detail.
On the domestic market, the minister said prices of essential commodities monitored by the ministry remain stable. He acknowledged that prices of some vegetables rose temporarily due to panic buying ahead of Ramadan.
“At the beginning of Ramadan, many consumers buy a month’s supply at once. Traders sometimes take advantage of short-term supply constraints. For instance, lemons that were selling at Tk 40–50 rose to Tk 120 briefly before returning to previous levels,” he said.
On the issue of extortion, the minister said past governments had pledged action but failed to deliver. “Wait and see. We will show results through action,” he added.
