As Bangladesh navigates these challenges, industry leaders recommend a two-pronged strategy: offering zero-duty access for US agricultural products and increasing imports from the US to help balance the trade deficit.
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Bangladeshi footwear exporters are expressing concern over the potential implications of reciprocal tariffs being imposed by the United States, as the country moves to adjust its trade policies, as per reports.
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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.
