The opinion marks a significant setback to the Republican leader
The National Board of Revenue (NBR) is set to propose zero import duties on an additional 100 goods in the upcoming national budget, aiming to boost bilateral trade with the United States and cushion higher tariffs on Bangladeshi products entering the American market.
The United States and China have agreed to temporarily slash reciprocal tariffs in a deal that surpassed expectations as the world’s two biggest economies seek to end a damaging trade war that has stoked fears of recession and roiled financial markets.
“We look forward to receiving a written offer from your government so that we can commence formal negotiations,” the USTR letter said
At a roundtable organised by The Daily Star, exporters and an economist urge a swift rethink of trade strategy
The Bank has been advising developing countries to focus attention on cutting trade barriers and boosting regional flows of goods
Beijing "will take countermeasures in a resolute and reciprocal manner" if any country sought such deals, a ministry spokesperson said
The trade war is raising fears of an economic downturn as the dollar tumbles and investors dump US government bonds, normally considered a safe haven investment.
US Customs and Border Protection agency published a list of tariff codes excluded from the import taxes
A $100 shipment of T-shirts or jeans from Dhaka would face nearly $49 in import taxes at a US port, compared to just $11.56 now
As new US tariffs shake global trade routes, Bangladesh is pursuing a plan to reduce its trade imbalance with the US through targeted import increases, regulatory reforms and behind-the-scenes diplomacy. Bangladesh is not panicking and may even stand to gain, officials said yesterday.
"Bangladesh generates a negligible amount of revenue from taxes levied on goods imported from the United States"
The way country-specific reciprocal tariffs are calculated raises serious questions.
China announces 34% additional tariffs; Stock markets around the world keep falling, banks hit hard
The extent of the latest bout of tariff slaps across so many countries has come as a major shock and is unprecedented
As the United States moves to impose reciprocal tariffs, concerns are mounting among Bangladeshi exporters, particularly in the footwear and pharmaceutical sectors, over potential implications for the country’s trade prospects.
Business leaders and economists have called upon the government to initiate immediate high-level negotiations with the United States administration following President Donald Trump’s imposition of reciprocal tariffs, warning that failure to secure concessions could erode the nation’s competitive edge in its most lucrative export market.
The government will shortly write to the United States Trade Representative (USTR), urging it to reduce what it describes as an irrational imposition of 37 percent reciprocal tariffs on Bangladeshi exports, a top official said yesterday.
US President Donald Trump yesterday stood in the White House Rose Garden, pointing to an oversized placard with details of levies he is set to impose on imports from America’s trading partners.
