US tariff at 20% 'satisfactory', says Khosru

A key BNP policymaker, Amir Khosru Mahmud Chowdhury today said reducing the US countervailing duty on Bangladesh from 35 percent to 20 percent is a 'satisfactory situation' for the export sector.

While speaking to reporters at his residence in Gulshan, he also said the interim government should clarify the entire matter regarding the US tariff announcement.

"This is not about winning or losing. With the duty that has been set, we are in a relatively satisfactory position in the competition. We got 20 percent, Pakistan got 19 percent, Vietnam got 20 percent, and India got 25 percent. In that case, I think overall the tariff figure is satisfactory in terms of competition," said Khosru.

Referring to what might be behind this new US tariff rate, the former commerce minister said, "We don't know the full details of the whole negotiation. We only know about the tariff part."

"After knowing the full details, we'll be able to comment on this. Until we know what has to be given in return for this (tariff), we can't say what the impact will be."

When asked if Bangladeshi businessmen feel relieved now after being in uncertainty over the US extra tariffs, the BNP leader said, "Like I said, the 20% tariff won't harm our export market at this moment. So, for now, it's a satisfactory decision."

Asked about any connection between the purchase of 25 Boeing planes from the US and the tariff reduction, Amir Khosru said, "No, something has to be done. Because the whole tariff issue for the Americans is in the interest of exporting their products. That's why this extra tariff was imposed."

"But while doing that, how much Bangladesh can absorb, how much our economy can absorb, how much our businessmen can absorb — these are things to talk about. If we know the full details, then we can comment on it," he said.

The BNP leader said the whole matter should be made clear.

Amir Khosru said, "Our trade is not only with America… We also export products to other countries. We have to understand and review where we stand overall, taking those [export destinations] into account."