U.S. to impose 37% tariffs on Bangladeshi goods

 

U.S. to impose 37% tariffs on Bangladeshi goods

At the same time, the US has imposed additional tariffs on Bangladesh. US President Donald Trump has raised tariffs on Bangladeshi products to 37 percent.

The announcement was made at a press conference in the Rose Garden of the White House on Wednesday (April 3) afternoon local time.

The US president announced a new tariff plan with a minimum rate of 10 percent. Earlier, the average tariff rate on Bangladeshi products was 15 percent.

Economists believe that the additional duty will have a negative impact on the country's export market, especially the apparel sector.

Bangladesh exports about $8.4 billion worth of goods to the US annually. A large part of this is clothing.
Apart from Bangladesh, many other countries have been affected by the increased tariff. The tariff rates have been increased to 26 percent for India, 29 per cent for Pakistan and 34 per cent for China. A 20% tariff has been imposed on the EU.

Besides, Japan has been slapped with 24 per cent tariffs, South Korea 25 per cent, Malaysia 24 percent, Vietnam 46 per cent, Pakistan 29 per cent, Sri Lanka 44 per cent, Thailand 36 per cent and Cambodia 49 per cent.