India on Thursday reacted cautiously to US President Donald Trump’s sweeping tariffs with exporters saying the flat 27 percent on exports imposed on fifth-largest economy could have been far worse.

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.

US President Donald Trump has slapped punishing new tariffs on imports of Chinese goods, deepening a trade war between the world’s two largest economies.

The WTO Secretariat is closely monitoring and analysing US tariff measures

The average US tariff surged from 2.5 percent to 20 percent with a single executive action

The research aims to identify the most affected products and the extent of duties imposed

Bangladesh's stock market has been struggling for several years due to the poor performance of listed firms, exacerbated by the Covid-19 pandemic and the Russia-Ukraine war.

He urged exporters and businesses to closely monitor updates from the US Treasury and relevant authorities

Khan believes non-leather footwear dependency is not as critical compared to other industries

“Such tariff measures could significantly hurt exports, particularly the RMG sector," said Raihan

His remarks come as Bangladesh is set to face a 37 percent tariff on its exports to the US

"We need a comprehensive review," said Mahfuz Kabir, research director of BIISS

Japanese firms are the biggest investors into the United States but Tokyo has failed to secure an exemption, with Trump announcing a hefty 24-percent levy on Japanese imports

The panic came after the US president on his so-called Liberation Day unveiled a blitz of levies aimed at correcting trade deficits

White House told reporters that a "baseline" 10 percent tariff would start on 12:01am (0401 GMT) on April 5

Trump said that a baseline tariff of 10 percent would be imposed on imports from a wide range of other countries

US President Donald Trump was poised to unveil sweeping new “Liberation Day” tariffs yesterday, but kept the world guessing until the last minute about the scope of an onslaught that could spark a global trade war.

Inflation reached 2.2 percent, calmed by an easing of energy tariffs,prices in the services sector

"To me, the most beautiful word in the dictionary is 'tariff,'" Trump repeatedly said on the campaign trail for the 2024 election.

The IMF has conducted research showing that uncertainty around trade can have a negative impact on the economy and hold back growth.