US imposes 37% tariff on Bangladeshi products

US President Donald Trump has announced fresh tariffs and rate hikes on a range of products from more than 100 countries, with Bangladeshi exports facing a 37 percent duty upon entry.

US President Donald Trump has announced fresh tariffs and rate hikes on a range of products from more than 100 countries, with Bangladeshi exports facing a 37 percent duty upon entry.

The US tariff rate on Bangladeshi products was previously an average of 15 percent, meaning the rate has more than doubled.

The US is the largest market for Bangladeshi readymade garments. Bangladesh exported about $8.4 billion in goods to America in 2024, of which $7.34 billion was readymade garments.

The new tariffs could thus be a major blow to Bangladesh's garment sector.

President Trump announced the new taxes on imports at a White House press conference after 2am on Thursday Bangladesh time. He described the day as the US's “Economic Liberation Day”, saying the country had been waiting for it for a long time.

A list released by the White House states that Bangladesh imposes tariffs of up to 74 percent on US goods. In response, a 37 percent "reduced supplementary tariff" will now be imposed on Bangladeshi goods entering the US market, it said.