Refayet Ullah Mirdha

As new US tariffs shake global trade routes, Bangladesh is pursuing a plan to reduce its trade imbalance with the US through targeted import increases, regulatory reforms and behind-the-scenes diplomacy. Bangladesh is not panicking and may even stand to gain, officials said yesterday.

Bangladesh’s garment industry, already under consistent pricing pressure from global clothing retailers and brands, now faces a fresh challenge due to new reciprocal tariff measures implemented by the Trump administration.

Factories provide essentials at subsidised prices to win worker loyalty and orders. But what does the factory gain?

Business leaders and economists have called upon the government to initiate immediate high-level negotiations with the United States administration following President Donald Trump’s imposition of reciprocal tariffs, warning that failure to secure concessions could erode the nation’s competitive edge in its most lucrative export market.

The US’s reciprocal tariff announcement will most definitely impact Bangladesh as its nearest competitors in apparel supply to the American market are facing lower tariffs, said exporters and economists yesterday.

The government will shortly write to the United States Trade Representative (USTR), urging it to reduce what it describes as an irrational imposition of 37 percent reciprocal tariffs on Bangladeshi exports, a top official said yesterday.

Bangladesh’s reliance on Indian imports has been increasing as local manufacturers and industries are struggling to reduce the time needed to bring in goods from other destinations as they battle to meet shrinking lead times.

Nearly 75 percent of the 9,596 garment and non-garment factories across Bangladesh were yet to pay workers their March wages till yesterday, according to Industrial Police, as Eid holidays are just around the corner.

China has been the single largest trading partner for Bangladesh for many years, but imports from the country have far outweighed exports

An uncertain future is overshadowing the joy of the upcoming Eid for thousands of workers who have lost their jobs due to factory closures and layoffs in the wake of last year’s political shift.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) yesterday urged the government to release Tk 500 crore in due export incentives to help small and medium enterprises (SMEs) pay workers’ bonuses and other dues ahead of the upcoming Eid-ul-Fitr.

In recent months, Bangladesh’s garment shipments to major markets such as the European Union (EU) and the US have rebounded strongly, but the price per unit has declined.

Professor Muhammad Yunus, chief adviser of the interim government, yesterday instructed his cabinet colleagues to prepare for Bangladesh’s status graduation from a least developed country (LDC) to a developing nation in November 2026, effectively doing away with all speculation.

In a war-ravaged country following the independence of Bangladesh, very few braved the risk of leaving a well-paid job to become a businessman.

Syed Manzur Elahi was one of Bangladesh’s most distinguished industrialists and entrepreneurs.

Bangladesh has outperformed competitor countries to attain the highest year-on-year growth in apparel shipments to the US market in January, as American retailers and brands are placing large volumes of work orders here to capitalise on the favourable tariff regime.

Bangladesh stands to benefit from enhanced trade ties with Pakistan as local traders are optimistic about getting more competitive prices and a broader range of raw material sources.

Mills and factories that were vandalised, ransacked or set ablaze during and after the July uprising have been struggling to reopen due to financial crises, unavailability of bank loans and their politically exposed owners facing legal consequences.

Bangladesh’s exports have shown resilience, displaying steady growth in key sectors such as garments, plastics and seafood in the first eight months of fiscal year (FY) 2024-25, somewhat defying global economic headwinds and domestic concerns like high inflation and political uncertainty.

The Bangladesh Energy Regulatory Commission (BERC) is going to hold a public hearing tomorrow on the proposed hike in gas prices for industrial use.