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April 2025

US tariff hike threatens entire economy, not just garment exports

A proposed 35 per cent tariff on Bangladeshi garment exports to the United States is expected to have far-reaching consequences, extending beyond the $8 billion in annual shipments, according to industry experts and economists. The impending tariff hike, scheduled to take effect on August 1, could ripple through Bangladesh’s entire economic ecosystem, impacting fabric suppliers, textile mills, banks, insurers, and millions of workers. In a roundtable recently organised in the city, business leaders expressed deep concerns over the potential fallout. AK Azad, chairman and CEO of Ha-Meem Group, warned that if Bangladesh fails to negotiate effectively, the entire supply chain, from raw material suppliers to exporters, could suffer.
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