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Major Garment Producer Bangladesh Seeks Deal After 35% US Tariff

BANGLADESH, JUL 8 – Bangladesh's garment sector faces a 35% US tariff amid trade deficit concerns, with exports to the US growing over 40% from 2020 to 2024, as negotiations aim to reduce the levy.

  • Bangladesh, the world's second-largest garment manufacturer, aims to reduce the 35% tariff imposed by the US on its exports.
  • The garment industry accounts for 80% of Bangladesh's exports, and the US tariff could lead to job losses as the US is its main export market.
  • Bangladesh proposed buying Boeing planes and boosting imports of US wheat, cotton, and oil to reduce the trade deficit cited by Trump as justification for the tariffs.
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EconomyNext broke the news in on Tuesday, July 8, 2025.
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