Shafiqul Alam: Securing a 20% US tariff rate marks a significant achievement

Chief Adviser’s Press Secretary Shafiqul Alam today described the outcome of Bangladesh’s recent tariff negotiations with the United States—securing a 20 percent tariff rate—as one of the interim government’s key achievements.

“This was the government’s most challenging foreign policy issue. But with proper preparation and confidence, Bangladesh has secured the result it was aiming for,” he said.

He made the remarks at a roundtable titled “Bangladesh and Trump Tariffs: Economic Diplomacy in a World after Trade Regime” held at the Daily Star Bhaban in Farmgate this morning. The discussion was organized by the Bangladesh Research Analysis and Information Network (BRAIN), with Dhaka University Professor Dr. Rashed Al Titumir, and economists Jyoti Rahman and Zia Hasan among the speakers.

Shafiqul Alam said, “Many argued that the interim government was weak, inexperienced, and incapable of striking a favorable deal with Washington. But this success proves that with sound preparation and confidence, even an interim authority can achieve significant results.”

He explained that the government, conscious of its interim character, focused on areas where immediate, practical outcomes were possible.

“From the outset, we were confident that an agreement with the US could be reached on favorable terms,” he added.

The press secretary highlighted that Bangladesh faced serious challenges on both the Rohingya crisis and shifting US tariff policies.

“Although a neighboring country’s media spread misleading narratives soon after this government took office, Bangladesh countered them with accurate diplomatic groundwork,” he noted.

He said National Security Adviser Dr. Khalilur Rahman, during his US visit, quickly realized that the Trump administration was moving away from global consensus and adopting unilateral tariff measures. Based on that insight, Bangladesh took advance preparations.

According to him, three key strengths drove the negotiations: Chief Adviser Professor Muhammad Yunus’ personal credibility and networks in the US, Dr. Khalilur Rahman’s extensive experience, and Commerce Adviser Sk Bashir Uddin’s clear understanding of global markets.

Alam stressed Bangladesh’s leverage as a major consumer and importer in the global economy.

“Cotton, oil, poultry feed, edible oil—Bangladesh has become a significant buyer in nearly every sector. That purchasing power became an asset in the negotiations,” he said.

He added that while Bangladesh succeeded with the US, it is also expanding its export footprint in Japan, South Korea, Brazil, South Africa, and the Middle East.

Shafiqul Alam emphasized the need for efficiency at Chattogram Port and logistics reforms to attract more foreign investment. “If Chattogram Port can function like Singapore’s, foreign investment will naturally flow,” he said.

He noted that the interim government’s measures have helped tame inflation, strengthen reserves, and restore some stability to the economy.

“We may not have reached 8 percent growth, but achieving 4 percent in the post-uprising period is no small feat,” he remarked.

Looking ahead, Alam said the tariff negotiation success has positioned Bangladesh’s economy on a stronger footing and will help deepen trade ties with the US.

“We want greater access to the vast American market. Like Japan, South Korea, Taiwan, and Vietnam, we believe that by boosting exports to the US, Bangladesh can chart a new course of prosperity,” he concluded.