Dhaka, Apr 03 (V7N) – The Bangladesh National Board of Revenue (NBR) is reviewing the increased tariffs imposed by the United States on Bangladeshi goods, seeking options to rationalize the trade impact. Shafiqul Alam, Press Secretary to the Chief Advisor, announced this in a Facebook status on Thursday morning.

"The United States is a close friend of Bangladesh and our largest export destination. Since the Trump administration took office, we have been working together to enhance trade and investment cooperation," Alam stated. He emphasized that finding a resolution to the tariff hike is crucial and that Bangladesh hopes for "positive progress through ongoing discussions with the US government."

On Wednesday (April 2) at 4 PM Washington time (2 AM Thursday Bangladesh time), US President Donald Trump announced a minimum 10% tariff on most imported goods, with higher tariffs for specific countries. Under this policy, tariffs on Bangladeshi products surged to 37%, up from the previous 15% average.

The United States is Bangladesh’s single largest export market, with annual exports reaching $8.4 billion, primarily from the ready-made garment sector. The new tariff structure is expected to significantly impact Bangladesh’s competitive edge in the US market.

The Bangladesh government is actively exploring solutions to mitigate the effects of the tariff hike, with the NBR set to finalize its review soon.

END/MSS/AJ