Trump’s Apparel Tariffs Hit Bangladesh, Triggering Economic Crisis

Bangladesh faces a 37% tariff on garment exports to the US, threatening its economy and millions of jobs as emergency talks are held to address the fallout.

• The US has implemented new tariffs on apparel imports, with Bangladesh facing a 37% duty, significantly higher than previous rates.
• The Bangladeshi garment industry, which accounts for 80% of the country's exports and employs 4 million people, is bracing for severe economic impacts.
• Bangladesh's government, led by interim Chief Adviser Muhammad Yunus, has convened emergency meetings to address the crisis and explore next steps.
• US trade groups warn that the tariffs will lead to higher consumer prices, with significant increases expected for everyday items like sneakers and jeans.
• Manufacturers in Bangladesh and other South Asian nations fear order cancellations and a loss of competitiveness as buyers seek alternative markets.

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The Independent