Bizdata Insights Main Logo

BizData Insights

US Trade Bodies Oppose Tariff Hike on Apparel Imports from BD

Industry: RMG & Textile

The opposition from prominent American trade bodies, including the American Apparel and Footwear Association (AAFA), the National Retail Federation (NRF), the Retail Industry Leaders Association (RILA), and the United States Fashion Industry Association (USFIA), against the idea of imposing higher tariffs on apparel imports from Bangladesh and other countries, underscores several key concerns.

Firstly, they emphasize that ultimately, it is the end-consumers in the United States who bear the brunt of additional tariffs through increased prices on apparel items. This highlights the potential negative impact on American consumers’ purchasing power and affordability.

Secondly, the trade bodies argue that higher tariffs would adversely affect the cost competitiveness of source countries, including Bangladesh, which is a significant exporter of apparel products to the US market. Such tariffs could disrupt trade flows and hinder the ability of apparel brands and retailers to diversify their supply chains effectively.

Source for more details:

Related News

Govt Takes Steps to Revive RR Textile and Rajshahi Textile Mills

May 29, 2024

The Government has taken significant steps to revive the RR Textile and Rajshahi Textile Mills in Sitakunda and Rajshahi, respectively, under the control of Bangladesh Textile Mills Limited (BTMC) through the Public-Private Partnership (PPP) system. The Cabinet Committee on Economic Affairs, chaired by the Finance Minister, has given in-principle approval to launch these two textile mills on a PPP basis.

Aman Cotton’s Losses Drop by 91%

May 28, 2024

Aman Cotton Fibrous Ltd reported a 91% year-on-year decline in losses for January-March 2024. The loss decreased to Tk 60.49 lakh from Tk 6.95 crore, with the loss per share dropping to Tk 0.06 from Tk 0.69. The yarn manufacturer attributed this improvement to an 11.13% price decline in raw cotton and a 3.4% increase in carded yarn sales.

Garment Exports to US Drop by 1.9%

May 28, 2024

Bangladesh’s readymade garment (RMG) export to the US, its largest market, dropped by 1.90% to $6.82 billion in July-April of FY24 from $6.95 billion in the same period of FY23, as per data from the Export Promotion Bureau (EPB).

RMG Industry Seeks Tax Breaks in FY25 Budget

May 28, 2024

In response to the slowdown in global demand and rising production costs, Bangladesh's garment industry is urging the government for tax breaks and extended policy support in the upcoming FY25 budget.

Jack Tech and BGMEA in Talks for Collaboration

May 28, 2024

A delegation from Jack Technology Co Ltd, a prominent Chinese sewing machine manufacturer, led by its CEO, visited the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) to explore potential partnerships aimed at enhancing the competitiveness of Bangladesh's ready-made garment (RMG) industry.

Garment Exports to EU Rise by 3.66%

May 28, 2024

During the July-April period of the current fiscal year, Bangladesh's garment exports to the European Union (EU) experienced a modest growth of 3.66 %, reaching $19.90 billion. Among EU member countries, Denmark saw the highest growth rate at 32 %, followed by Poland at 20.65 %, the Netherlands at 17.51 %, Spain at 6.07 %, and France at 3.42 %. Conversely, exports to Italy declined by 2.45 %.

Related News

Govt Takes Steps to Revive RR Textile and Rajshahi Textile Mills

May 29, 2024

The Government has taken significant steps to revive the RR Textile and Rajshahi Textile Mills in Sitakunda and Rajshahi, respectively, under the control of Bangladesh Textile Mills Limited (BTMC) through the Public-Private Partnership (PPP) system. The Cabinet Committee on Economic Affairs, chaired by the Finance Minister, has given in-principle approval to launch these two textile mills on a PPP basis.

Aman Cotton’s Losses Drop by 91%

May 28, 2024

Aman Cotton Fibrous Ltd reported a 91% year-on-year decline in losses for January-March 2024. The loss decreased to Tk 60.49 lakh from Tk 6.95 crore, with the loss per share dropping to Tk 0.06 from Tk 0.69. The yarn manufacturer attributed this improvement to an 11.13% price decline in raw cotton and a 3.4% increase in carded yarn sales.

Garment Exports to US Drop by 1.9%

May 28, 2024

Bangladesh’s readymade garment (RMG) export to the US, its largest market, dropped by 1.90% to $6.82 billion in July-April of FY24 from $6.95 billion in the same period of FY23, as per data from the Export Promotion Bureau (EPB).

RMG Industry Seeks Tax Breaks in FY25 Budget

May 28, 2024

In response to the slowdown in global demand and rising production costs, Bangladesh's garment industry is urging the government for tax breaks and extended policy support in the upcoming FY25 budget.

Jack Tech and BGMEA in Talks for Collaboration

May 28, 2024

A delegation from Jack Technology Co Ltd, a prominent Chinese sewing machine manufacturer, led by its CEO, visited the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) to explore potential partnerships aimed at enhancing the competitiveness of Bangladesh's ready-made garment (RMG) industry.

Garment Exports to EU Rise by 3.66%

May 28, 2024

During the July-April period of the current fiscal year, Bangladesh's garment exports to the European Union (EU) experienced a modest growth of 3.66 %, reaching $19.90 billion. Among EU member countries, Denmark saw the highest growth rate at 32 %, followed by Poland at 20.65 %, the Netherlands at 17.51 %, Spain at 6.07 %, and France at 3.42 %. Conversely, exports to Italy declined by 2.45 %.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here