US tariffs may hurt Bangladesh
Bangladesh may be affected by the US’ decision to impose tariffs on apparel imports. After imposing tariffs on imports of a number of products from different countries, the world’s biggest economy is now planning to impose tariffs on imports of apparels, footwear, and technology and telecommunication from China.
A tariff imposition on readymade garment items would hurt Bangladesh’s exports to the US market if the tariff were to be imposed indiscriminately on all countries. The impact of possible tariff on apparel products from Bangladesh would depend on how the US imposes it. Bangladesh’s exports will be affected if the tariff is imposed on all countries. If the tariff is imposed only on China and other big countries, Bangladesh may benefit.
The imposition of a tariff by the US would be a matter of concern for Bangladeshi apparel exporters as they are currently paying around 16 per cent duty in the market. The US has already imposed additional tariffs on different products from Canada, the European Union and Japan. These countries have warned the US of retaliation through imposing tariffs on US products. The EU has threatened to slap tariffs on products like Harley-Davidsons, Kentucky bourbon and jeans if the US doesn’t exempt the bloc from tariffs on steel and aluminium imports.