DHAKA, Jul 28 (NNN-BSS) – The Asian Development Bank (ADB), warned that, tariffs imposed by the United States could negatively impact the Bangladeshi economy.
The Manila-based lender, in its recently published July edition of the Asian Development Outlook, said, growth forecast in the fiscal year (Jul 2025-Jun 2026) for Bangladesh, has been revised downward, mainly due to a slowdown in the export and industrial sectors, as well as, potential effects of U.S. tariffs.
The ADB in Apr, projected a 5.1 percent growth in the 2025-26 fiscal year for Bangladesh.
The U.S. administration announced a 35 percent tariff on Bangladeshi products, which is scheduled to take effect on Aug 1.
Trade analysts said, Bangladesh remained at a distinct disadvantage, compared to its competitors in the U.S. market, for its readymade garments, the export of which is the backbone of the country’s economy, accounting for more than 80 percent of export earnings and employing over four million workers.– NNN-BSS
