A White House chart claims Bangladesh effectively imposes a 74 percent tariff on American goods. 

In response, a 'discounted reciprocal tariff' of 37 percent will now be applied to Bangladeshi exports to the US.

The US tariff rate on Bangladeshi products was previously an average of 15 percent, meaning the rate has more than doubled. 

The US is the largest market for Bangladeshi readymade garments. Bangladesh exported about $8.4 billion in goods to America in 2024, of which $7.34 billion was readymade garments. 

The new tariffs could thus be a major blow to Bangladesh's garment sector. 

Trump announced the new taxes on imports at a White House press conference after 2 am on Thursday Bangladesh time.

 He described the day as the US's “Economic Liberation Day”, saying the country had been waiting for it for a long time.