The US has imposed a 50% tariff on Indian goods, with an immediate 25% hike followed by another 25% in late August if India maintains energy imports from Russia. Tariffs on Chinese goods stand at 30%, with a possible further increase.
Bangladesh’s apparel exporters see this as a major opportunity to boost exports and attract investment from India and China, potentially allowing US buyers to save up to 30% by sourcing from Bangladesh.
To seize the moment, exporters urge swift government action to resolve the industrial gas crisis, ensure political stability, improve port efficiency, reform the banking sector, and create a more investor-friendly climate. Vietnam, facing a lower 20% US tariff, is also expected to benefit.
Currently, China leads global RMG exports, followed by Bangladesh, Vietnam, and India.
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