Chief Adviser Prof Muhammad Yunus, has called an emergency meeting following US President Donald Trump’s announcement of a sharp increase in tariffs on Bangladeshi products.
Under the new policy, the tariff on Bangladeshi goods entering the US has been raised to 37 percent, up from the previous average of 15 percent.
The emergency meeting is scheduled for Saturday at 7:30pm at the state guesthouse Jamuna, according to a statement from the Chief Adviser’s Press Wing. Top economic experts, advisers, and relevant government officials will attend the meeting to assess the impact and outline possible responses.
US is one of Bangladesh’s two major export markets. A significant portion of Bangladesh’s exports, particularly ready-made garments, is shipped to the US market.
Currently, Bangladesh exports around $8.4 billion worth of goods to the US annually, with garments accounting for the majority. In the previous year, garment exports alone amounted to $7.34 billion.
Economists fear that this newly imposed high tariff will have a significant negative impact on Bangladesh’s exports, especially in the ready-made garment sector.