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Bangladesh's garment industry sees potential in US tariff policy
The shift of the USA to reciprocal tariffs has shaken global trade. But for Bangladesh, it’s opened a rare window of opportunity
The new tariff on US-bound exports from Bangladesh came into effect yesterday, with hopes of maintaining a healthy flow of garment shipments to the American market.
The new 20 percent reciprocal tariff by the United States on Bangladeshi exports to the American market will come into effect tonight, which may open up opportunities for the country’s apparel sector as it adapts to evolving global trade dynamics.
Trump admin has reduced tariffs on Bangladeshi goods from 35% to 20%, a move expected to strengthen the country’s competitiveness against rivals such as India and Vietnam
Here is the full text of his views on the new tariff
Top business leaders have expressed frustration over the government’s progress in negotiations with the United States on reciprocal tariffs, saying they are now working to appoint a lobbyist on their own, though doubts remain about whether this last-ditch effort will succeed.
Bangladesh is currently reviewing the proposals and will send a response within the next couple of days, Commerce Secretary Mahbubur Rahman told The Daily Star yesterday over the phone.
Here is the full text of his views on the new tariff
Top business leaders have expressed frustration over the government’s progress in negotiations with the United States on reciprocal tariffs, saying they are now working to appoint a lobbyist on their own, though doubts remain about whether this last-ditch effort will succeed.
Bangladesh is currently reviewing the proposals and will send a response within the next couple of days, Commerce Secretary Mahbubur Rahman told The Daily Star yesterday over the phone.
At a Star roundtable, industry leaders, trade experts slam govt’s handling of negotiations with US
A steep 35 percent tariff on Bangladeshi garment exports to the United States would affect far more than the country’s $8 billion annual shipments, according to economists and business leaders.
Owners of Chattogram-based readymade garment factories, many of which do business with buyers in the United States, are worried about a US tariff hike to 35 percent set to take effect on August 1.
The US has demanded zero duty facility for a large number of its products from Bangladesh.
The diverging outcomes threaten to create a multi-tiered tariff landscape in Asia, placing nations like Bangladesh at a serious disadvantage in the US market.
Bangladesh is facing pressure from Washington to decouple its manufacturing industries from Chinese suppliers, according to officials familiar with trade negotiations
There is a national security rationale for domestic production, but also for friendshoring and for nearshoring, because the stuff that's close by is a lot easier to secure, he says
