businessnews24bd.com

The United States has imposed a 10 percent tariff on all Bangladeshi imports under Section 301 of the Trade Act of 1974, effective from 12:01 am (Washington DC time) on July 24, following investigations into forced labour practices across 60 economies.

According to a press release issued by the Bangladesh Embassy in Washington on July 24, the new tariff measures range from 10 to 12.5 percent globally and replace the previous temporary 10 percent global tariff under Section 122.

The 10 percent rate will be levied in addition to the existing Most-Favored-Nation (MFN) tariff rates.

Bangladesh is among 17 economies placed in the lower 10 percent tariff tier, alongside regional competitors such as Cambodia, India, Indonesia, and Pakistan.

The Bangladesh Embassy noted that the tariff structure allows Bangladesh to retain its competitive edge in the US apparel and export market. Major competing garment exporters, including China, Vietnam, and Thailand, face the higher 12.5 percent maximum tariff rate, giving Bangladesh a comparative advantage.

Moreover, the Office of the United States Trade Representative (USTR) is considering a three-year Tariff-Rate Quota (TRQ) for four nations, including Bangladesh.

Under this mechanism, Section 301 tariffs would be waived on readymade garments produced using US cotton and textile inputs, potentially boosting Bangladesh's export growth to the US market.

Reaffirming its position, the Bangladesh government emphasized its commitment to upholding international labor standards and pledged to engage closely with global partners to ensure compliance, sustainability, and growth across critical export sectors.