Stocks open lower amid Trump’s tariff move on Bangladesh
The Dhaka Stock Exchange (DSE) opened on a cautious note today (8 July), with stocks trading slightly lower in the first 40 minutes of the session, following US President Donald Trump's announcement of a 35% reciprocal tariff on Bangladeshi products.
The DSEX, the benchmark index of the DSE, initially dipped in the first five minutes of trading before briefly rebounding into positive territory. However, by 10:40am, the index was down 10 points at 4,966. Meanwhile, the blue-chip index DS30 shed 5 points, settling at 1,867.
Among the traded issues, 118 advanced, 176 declined, and 84 remained unchanged.
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President Trump's tariff, set to take effect on 1 August, marks a significant shift in trade policy, aiming to counter what he described as imbalanced trade relations with Bangladesh.
Officials from Bangladesh have stated that there remains an opportunity to negotiate and potentially reduce the tariff through diplomatic discussions. A delegation is currently engaging with the US government in this regard.
