Vietnam

Economics

Bangladesh’s victory and defeat in US tariff war

After three rounds of discussion, Bangladesh has managed to reduce the increased tariff imposed on its products in the US market from 35 percent to 20 percent. This is not only positive for the country's economy but also a diplomatic success for the interim government. Because when on April 2, US President Donald Trump first announced the rate of additional tariffs on various countries, he stated that a 37 percent additional tariff would be levied on Bangladeshi products. Later, that tariff was suspended temporarily for three months. Trump informed Dr Yunus in a letter that instead of 37, the tariff amount on Bangladesh would be 35 percent, after reducing it by 2 percent.