US Tariff on Bangladeshi Goods Doubles Amid Trade Shift

The recent imposition of a 37% reciprocal tariff by the US on Bangladeshi exports, particularly affecting the ready-made garment (RMG) sector, is expected to severely impact Bangladesh's economy. This move is part of President Trump's broader tariff strategy targeting countries with high trade barriers against US exports, and it doubles the previous average tariff of 15% on Bangladeshi goods. The US is Bangladesh's largest export market, and the increased tariffs are likely to reduce competitiveness, especially in the RMG sector, which constitutes 80% of Bangladesh's export income. In response, Bangladesh plans to negotiate tariff reductions and may increase US imports to balance trade relations. This tariff policy may lead to a global trade slowdown, affecting not just Bangladesh but potentially triggering retaliatory measures worldwide. Bangladesh faces complex challenges as it navigates these new trade dynamics and seeks to mitigate the economic fallout.