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
The local suppliers are now trying to negotiate prices of garments under the new tariff regime
Bold diplomacy, united efforts essential
Bangladeshi exporters remain optimistic about withstanding the Trump administration’s sweeping tariffs, hoping that bold diplomacy and a united front at home will shield them from the trade shock.
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 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.
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
The local suppliers are now trying to negotiate prices of garments under the new tariff regime
Bold diplomacy, united efforts essential
Bangladeshi exporters remain optimistic about withstanding the Trump administration’s sweeping tariffs, hoping that bold diplomacy and a united front at home will shield them from the trade shock.
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 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.
