US President Donald Trump announced new tariffs on Bangladeshi products raising duties to 37% from 15%. Economists fear this sharp increase will hit Bangladesh’s ready-made garment sector hard, threatening exports.
Announcement came during Wednesday’s press conference in Washington effective from midnight local time.
Trump also slapped 25% tariffs on foreign vehicle imports, targeting 185 countries and regions, including China and UK. He argued that nations like South Korea and Japan sell over 80% and 90% of locally made cars domestically while US vehicles barely penetrate those markets.
“Time to level playing field,” Trump said, calling past decades neglectful. Reciprocal tariffs start tomorrow, he added.
Other nations face similar measures: India 26%, Pakistan 29%, China 34%, EU 20%, Vietnam 46%, Sri Lanka 44%, Taiwan 32%, Malaysia 24%, Israel 17%, UK 10%, Myanmar 44%, Laos 48%, Madagascar 47%. Many label this move trade war escalation.
| Country/Region | Tariff Rate (%) |
|---|---|
| India | 26 |
| Pakistan | 29 |
| China | 34 |
| EU (European Union) | 20 |
| Vietnam | 46 |
| Sri Lanka | 44 |
| Taiwan | 32 |
| Malaysia | 24 |
| Israel | 17 |
| UK (United Kingdom) | 10 |
| Myanmar | 44 |
| Laos | 48 |
| Madagascar | 47 |
Many nations view these tariffs as escalation toward trade war, raising global economic tensions.
Speaking firmly Trump warned countries treating US unfairly will face calculated retaliation. “Sometimes friends act worse than enemies in trade,” he remarked, dubbing day “US Economic Independence Day.” He hailed new tariffs as long-awaited step toward economic freedom.
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Bangladesh heavily reliant on garments braces for impact. Economists predict export decline, urging swift response. Meanwhile, global markets watch closely as Trump’s policies reshape trade dynamics.
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