Bangladesh clothes makers uneasy amid Trump tariff push
Bangladeshi ready-made garment (RMG) factory owners voiced alarm on Tuesday, July 8, after US President Donald Trump sent a letter to the South Asian country's Chief Adviser, announcing a 35 percent increase in export tariffs on any export goods starting next month.
Bangladesh, the world’s second-largest exporter of RMG clothing after China, faces stiff competition from India, Pakistan, and Vietnam to compete in its nearly $40-billion global apparel market, nearly one-fourth of which comes from the US alone.
While Vietnam has been served a 20 percent tariff hike by Washington, Bangladeshi manufacturers are anxiously awaiting the outcome of ongoing trade negotiations between Dhaka and US officials in Washington.
REUTERS VIDEO
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