Economists and industry leaders on Saturday called on the government to make strategic use of the 90-day suspension of US tariffs on exports from countries including Bangladesh, warning that the temporary reprieve offers no permanent solution.

They stressed the need for a long-term, sustainable approach to safeguard the country’s trade interests, as the future beyond the 90-day period remains uncertain.

The comments were made at a roundtable titled ‘US Tariffs on Bangladesh’s Exports: Reciprocal Strategies and the Way Forward for Negotiations’, jointly organised by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Bangladesh Textile Mills Association and other trade bodies from the textiles, pharmaceuticals, plastics and related sectors in the capital.

M Masrur Reaz, Chairman of Policy Exchange Bangladesh, urged the government to act swiftly during this window, saying, ‘If we fail to seize this opportunity, we may find ourselves scrambling again in 90 days.’

He emphasised the importance of engaging in strategic dialogue with the United States to understand its expectations, particularly around trade surplus and tariffs, and to determine Bangladesh’s own policy offerings in return.

Muhibuzzaman, chairman of ACI Pharmaceuticals, said that the new tariff will hit the country’s major industries and value chain. However, as the US has decided to impose a 90-day pause, the government has the time to negotiate, and it should do so strategically.

He also said that the pharmaceutical industry will face a significant challenge in the form of LDC graduation, which could negatively impact the sector. Without the generic, Bangladeshi manufacturers won’t be able to produce new products, he added.

In his speech, Md Anwar Hossain, administrator of BGMEA, said that the government is working on three fronts: tariff issues, LDC graduation, and transshipment through India.

‘However, the businesses also should help the government by providing required data. We should work through both on diplomatic channels and policy fronts,’ he said.

He also said that the industry and government work together for sustainability and compliance.

Anwar-Ul Alam Chowdhury Parvez, President of Bangladesh Chamber of Industries (BCI), urged the government to defer the LDC graduation by three years as the industries are yet to prepare.

‘The government should resolve the issues related the NBR, gas and energy supply to attract investment,’ he said.

He urged the government to take immediate action through diplomacy and negotiations regarding the US tariff.

Hafizur Rahman, administrator of the Federation of Bangladesh Chambers of Commerce and Industry, said that Bangladesh should focus on reducing its trade gap with the US and must identify the US expectations of Bangladesh.

‘Vietnam and India might be signing an FTA with the USA soon, so Bangladesh should also focus on rationalizing trade and negotiations,’ he added, urging the government not to take any rigid decision.

Shamim Ahmed, the president of the Bangladesh Plastic Goods Manufacturers and Exporters Association, also spoke at the event.

BTMA president Showkat Aziz Russell moderated the event.