Dhaka, April 3 -- In an executive order, US President Donald Trump has imposed a 37% tariff on Bangladeshi products and others, sparking concerns among economists and apparel industry stakeholders.

They fear this move will exert significant pressure on Bangladesh's economy, urging the country to diversify its economic landscape and initiate dialogue with the US administration under the Trade and Investment Cooperation Framework Agreement (TICFA).

Experts believe that a mutual understanding between the two nations could lead to a revision of the imposed tariff.

Failure to act promptly may result in the migration of apparel orders to countries such as India, Turkey, Egypt and Honduras.

Need for Export Diversification

Former Dhaka Unive...