Trump's 35% tariff will be disastrous for Bangladesh's exports: Former BGMEA president
“When Vietnam exports garments at a 20% tariff, we will have to pay 35%. And we are still not certain whether the existing 16% will also be added,” she said
Former president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Rubana Huq, has expressed grave concern over US President Donald Trump's announcement of a 35% tariff on Bangladeshi imports, warning that it could severely damage the country's export sector.
"If this tariff remains in place, it will be disastrous for Bangladesh's export sector," Rubana said.
"When Vietnam exports garments at a 20% tariff, we will have to pay 35%. And we are still not certain whether the existing 16% will also be added," she added.
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"If that is also added, then the situation will be terrible. We don't know anything about whether the government is negotiating or has negotiated with the United States," she said.
Despite the uncertainty, Rubana noted that the window for diplomacy remains open.
"Since Bangladesh has time until August, there is an opportunity to reduce this tariff through discussions during this period. I have learned that government policymakers are either in or are going to the United States. So we are waiting," she said.
Yesterday (7 July), Trump shared a letter on his Truth Social platform threatening to impose a 35% tariff on all Bangladeshi products entering the United States, citing longstanding trade deficits and lack of reciprocity.
