The new tariff policy announced by US President Donald Trump will take effect from August 1. With only three days left, Bangladesh has not yet reached a formal agreement with the United States.

US Commerce Secretary Howard Lutnick told Fox News Sunday on Sunday (July 27) that the deadline for imposing tariffs on trading partners is final and will not be extended. However, he said there will be room for negotiation even after the tariffs take effect.

The United Kingdom, Japan, the Philippines, Indonesia, and Vietnam have already reached agreements with the United States. Trump recently announced an agreement with the European Union. However, most countries in the world have not yet reached an agreement.

The tariffs agreed to by the five countries are higher than the 10 percent base tariff announced in April, but are far lower than the levels threatened to be imposed on countries that have not yet signed an agreement.

A delegation led by Trade Advisor Sheikh Bashiruddin is on a three-day visit to the United States on behalf of Bangladesh. They will hold three-day meetings with USTR (Office of the United States Trade Representative) officials. The discussions will include direct negotiations on US tariffs, market access, and the balance of import and export.

Sources said that Bangladesh has already made some strategic commitments to the US to reduce the countervailing duties. These include an order to buy 25 aircraft from the US Boeing Company, an agreement to import 700,000 tons of wheat per year, and an announcement to triple the volume of cotton and soybean imports. In addition, it has promised to increase the volume of edible oil imports from the US to $ 1 billion from the current $ 300 million.

Commerce Secretary Mahbubur Rahman said, "Keeping in mind the market reality, we are holding discussions with the US for mutual benefit. Now is the time to make some commitments so that the pressure of counter-tariffs can be reduced to some extent." He said, "While there was an order to buy 14 Boeings earlier, it has now been increased to 25. Advance agreements have also been made for the import of wheat, cotton and soybeans. This is not just a diplomatic relationship, but also part of keeping the supply chain secure and developing alternative markets."

The government has said that these commitments are not a symbol of single-minded dependence. In the future, imports will also be made from other sources as needed. However, the main topic of discussion at present is reducing US tariffs. Because it has become almost impossible to retain the US market with additional tariffs of up to 35 percent.

The Commerce Secretary also said, "We have responded to every paragraph given by the United States. Now is the time for direct talks. There is a possibility that some production removed from the Chinese market will come to Bangladesh, and we want to seize that opportunity."

Meanwhile, BGMEA President Mahmud Hasan Khan Babu said, "To maintain the position Bangladesh has in the US market, we need tariff reductions like India and Vietnam. Otherwise, there will be a risk of losing the market."