No need to be overly concerned over US trade deal: commerce minister

There is no need to be overly concerned about the US reciprocal trade deal, as the government is regularly monitoring the recent trade agreement with the United States and will take steps to protect national interests, Commerce Minister Khandakar Abdul Muktadir said today.

The minister was speaking to reporters at the Secretariat in Dhaka following a meeting with US Assistant Secretary for South and Central Asian Affairs S. Paul Kapur, according to a press release.

“There was no separate discussion on the recent trade agreement between Bangladesh and the United States. This agreement has already been signed and is a state-to-state agreement between the two countries. Therefore, there is no need to make a new decision on it,” he said.

The meeting focused on strengthening existing trade ties and exploring investment in new sectors. Addressing the nature of the pact, the minister said international agreements are built on compromise.

"In any international agreement, both parties have certain demands. Some clauses favour one party, while others are advantageous to the other. An attempt is made to reach a 'win-win' situation through negotiations," he said.

Muktadir added that it is too early to label the agreement as entirely positive or negative, describing it as a "reality" that could serve as a foundation for future trade relations. He also noted that the government is observing developments following a US Supreme Court ruling on tariffs.

On the possibility of revising the terms, the minister said, "No agreement is final. Every agreement has the opportunity to be amended and renegotiated. If necessary, changes can be made through negotiations in the future."

The meeting was attended by State Minister for Commerce Md. Shariful Alam, Commerce Secretary Mahbubur Rahman, and US Ambassador to Bangladesh Brent T Christensen, among others.