U.S. President Donald Trump has announced a 10% tariff on all imports to the United States, along with higher tariffs on products from several major trading partners.
During a press conference at the White House on April 2 (local time), Trump declared that the tariff on Bangladeshi products would be increased to 37%, up from the previous average of 15%.
Bangladesh exports approximately $8.4 billion worth of goods to the U.S. annually, primarily garments. In the last year alone, apparel exports to the U.S. amounted to $7.34 billion. Experts fear that this increased tariff will significantly impact Bangladesh’s export sector, particularly the ready-made garment industry.
Trump also announced tariffs on other countries, including:
India: 26%
Pakistan: 29%
China: 34%
European Union: 20%
Vietnam: 46%
Sri Lanka: 44%
Japan: 24%
South Korea: 25%
Thailand: 36%
UK, Brazil, Singapore, Israel, Philippines, Chile, Australia, Turkey, Colombia: 10%
President Trump described the tariff hikes as a move to protect the U.S. economy from what he called unfair trade practices. Analysts predict these measures could lead to trade tensions and affect global commerce.
