Former Bangladesh Garment Manufacturers and Exporters Association (BGMEA) vice president Rakibul Alam Chowdhury said the country's ready-made garment (RMG) industry is seriously threatened by the US government's recent implementation of a 37 per cent tax.
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Two of Bangladesh's biggest exporters of clothing have demanded that the government remove or significantly lower import taxes on goods originating in the US. They contend that preserving competitiveness against other nations in the global market requires lower tariffs.
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In response to the United States’ recent imposition of a 37 per cent tariff on imports from Bangladesh, the Bangladeshi Government is undertaking a review of its own tariffs on American products, as per reports.
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The United States has announced a 37 per cent tariff on imports from Bangladesh, as part of President Donald Trump’s 'Reciprocal Tariffs' policy aimed at addressing perceived unfair trade practices.
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For the past five days, employees of the Group's three ready-made clothing factories—TNZ Apparels Ltd., Apparel Plus Eco Ltd., and Apparel Art Ltd.—have been demonstrating at the Shrama Bhaban to demand payment for three months that they have been due.
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The proposed regulations may lower the number of nominated directors from 34 to 12 and the overall number of directors from the current 80 to less than 50, according to FBCCI and Commerce Ministry officials.
