Dhaka, April 4 -- Bangladeshi business leaders as well economists have expressed deep concerns over the of the country's $30 billion ready-made garment (RMG) industry, focusing on the impact of U.S.
President Donald Trump's tariffs on their exports, calling it a severe blow to Bangladesh's growing trade with the U.S.
Bangladesh's ready-made garment industry, a major driver of its economy, had long enjoyed strong export growth to the United States, with the value of exports crossing the $10 billion mark annually.
Syed Moazzem Hossain, President of Australian Bangladesh Chamber of commerce and Industry( ABCCI) told The New Nation that the 37 per cent increase is an additional tariff, meaning the total duty on RMG cotton-blend products will...