Bangladesh’s Economy at Risk: United Nations

Staff Correspondent

Bangladesh’s economy faces significant challenges due to tariffs imposed by former U.S. President Donald Trump. While a 90-day suspension of the tariffs provides temporary relief, long-term damage remains a concern.

The United Nations Conference on Trade and Development (UNCTAD) highlighted these concerns in its report titled *”Sparing the Vulnerable: The Cost of New Tariff Burdens,”* released Thursday.

The report indicates that while countries like Bangladesh contribute only 0.3% to the U.S. trade deficit, new tariff policies are increasing export costs for these nations. As a result, access to U.S. markets will become more challenging, particularly for sectors like garments and agricultural products, diminishing export prospects.

The report forecasts that even with a universal 10% tariff on U.S. imports, additional country-specific tariffs could come into effect by July. This could increase import duties for countries like Bangladesh to 44%, putting their economies at considerable risk.

UNCTAD emphasized the need for international cooperation, tariff relief policies, and easier market access for developing nations to avoid creating new inequalities in global trade. Without such measures, long-term global development could be hindered.

Meanwhile, the National Board of Revenue (NBR) of Bangladesh is preparing to propose tariff exemptions on 100 U.S. products in the upcoming budget to strengthen bilateral trade and reduce high tariffs on Bangladeshi goods in the U.S. market.