President Donald Trump has announced a new 37% tariff on Bangladeshi imports, more than doubling the previous average of 15%. This move affects the largest market for Bangladesh’s readymade garments, which constituted a significant portion of its exports to the US. The decision is viewed as part of broader trade measures against over 100 countries and is anticipated to have major implications for Bangladesh’s economy.
On April 3, 2025, United States President Donald Trump introduced new tariffs affecting over 100 countries, imposing a significant 37% duty on Bangladeshi imports. This increase more than doubles the previous average tariff rate of 15%, placing considerable pressure on Bangladesh’s export economy.
The United States serves as the largest market for Bangladesh’s readymade garments, with exports amounting to approximately $8.4 billion in 2024. Of this total, roughly $7.34 billion originated from the garment sector, making the new tariffs potentially devastating for industry stakeholders.
The announcement occurred during a White House press conference, where President Trump termed the day as the US’s “Economic Liberation Day.” He indicated that the country had anticipated this development for an extended period.
According to the White House, Bangladesh currently applies tariffs of up to 74% on American goods. In light of this, the US will now impose a 37% “reduced supplementary tariff” on Bangladeshi products entering the country, highlighting a response to existing trade practices.
The introduction of a 37% tariff on Bangladeshi goods by the United States represents a significant escalation in trade tensions, potentially jeopardizing Bangladesh’s vital garment sector. With the US being the largest market for Bangladeshi exports, this development could have far-reaching economic consequences for the country. As trade relations continue to evolve, the impacts of this tariff will be closely monitored by industry experts and government officials alike.
Original Source: bdnews24.com
