Millions of jobs in Bangladesh at risk as 35% US tariff threatens garment industry
The proposed levy would strip Bangladesh of its price advantage over rivals like Vietnam, jeopardising livelihoods across the country
Bangladesh’s ready-made garments industry employs around 4 million people and is the backbone of its economy. It contributes to over 80 per cent of the country’s total export earnings, according to data from the Foreign Investors’ Chamber of Commerce & Industry in Dhaka. The US is one of the biggest markets for the industry.
The proposed levy could strip Bangladesh of its price advantage over regional trade rivals such as Vietnam, which faces a lower 20 per cent US tariff, according to analysts.
“If the US implements such a high tariff, then sections of our industry will shut down. Our exports will be in peril. We will be in distress,” said Abdul Wadut, whose firm, Winter Group, exports knitwear and jumpers globally.