United News of Bangladesh

US President Donald Trump declared a complete halt on all “reciprocal” tariffs that took effect at midnight, with the exception of those imposed on China. Trump announced that tariffs on China would rise from 104% to 125%, reports CNN. Meanwhile, Chief Adviser Muhammad Yunus has expressed his gratitude to President Trump for his decision. "Thank you, Mr. President, (@POTUS) for responding positively to our request for 90-day pause on tariffs. We will continue to work with your administration in support of your trade agenda," Chief Adviser's Press Secretary Shafiqul Alam said quoting Chief Adviser Prof Muhammad Yunus. In a post on Truth Social on Wednesday, Trump stated that he had “authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.” “Due to the lack of respect China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately,” Trump wrote on his social media. “At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable,” he added. The decision to raise tariffs on China followed Beijing's announcement of new retaliatory tariffs on the United States, set to take effect on Thursday. The Trump administration has specifically targeted China's trade practices, said the report. Treasury Secretary Scott Bessent praised Trump’s resolve, stating on Wednesday that Trump had “great courage to stay the course until this moment.” The administration has warned countries worldwide, “do not retaliate and you will be rewarded,” and expressed willingness to negotiate with any nation seeking to engage in talks, Bessent noted. Bessent emphasized that the move “signals that President Trump cares about trade and that we want to negotiate in good faith.” Both Bessent and Commerce Secretary Howard Lutnick were with Trump when he posted his message on Truth Social, Lutnick confirmed on a post on X,added the report. “Scott Bessent and I sat with the President while he wrote one of the most extraordinary Truth posts of his Presidency,” Lutnick wrote. “The world is ready to work with President Trump to fix global trade, and China has chosen the opposite direction.” Stocks surged following the announcement, with the Dow climbing 2,200 points, or 5.9%. The S&P 500 gained 6.5%, and the Nasdaq rose by more than 8%. The markets had been under pressure due to the potential for significantly higher tariffs, as outlined by Trump last week, the report also said. However, Trump did not indicate that he was pausing the 10% universal tariff on all trading partners, except for Canada and Mexico, which took effect over the weekend. As a result, countries that had reciprocal tariffs imposed on them would still face a 10% tariff, Bessent confirmed.

In an executive order, US President Donald Trump has imposed a 37% tariff on Bangladeshi products and others, sparking concerns among economists and apparel industry stakeholders. They fear this move will exert significant pressure on Bangladesh’s economy, urging the country to diversify its economic landscape and initiate dialogue with the US administration under the Trade and Investment Cooperation Framework Agreement (TICFA). Experts believe that a mutual understanding between the two nations could lead to a revision of the imposed tariff. Failure to act promptly may result in the migration of apparel orders to countries such as India, Turkey, Egypt and Honduras. Need for Export Diversification Former Dhaka University professor Dr MM Akash emphasised the necessity of diversifying Bangladesh’s export base to mitigate the impact of the tariff. “We need to tackle this by expanding our trade to multiple countries with a variety of products,” he said. Highlighting the country’s lack of preparation in this regard, Dr Akash argued for a strategic trade approach. “Previously, we discussed free trade and protectionist trade. Now, both strategies are becoming ineffective. We must adopt strategic trade policies,” he added. Efforts underway to address tariff issue with US: Press Secretary  According to him, Bangladesh must be selective—pursuing protectionist policies in some areas, engaging in free trade in others, and strengthening ties with China and India where necessary. “At times, we may capture Vietnam’s market, and at times, Vietnam may capture ours. We might even impose tariffs on American products. A multi-pronged strategy is essential,” he said. But, Bangladesh Institute of International and Strategic Studies (BIISS) Research Director and economist Dr Mahfuz Kabir presented a different view, saying that Bangladesh cannot swiftly redirect its export markets. “Eighty-five percent of our exports come from the apparel sector, which must remain intact. In the long term, we may consider diversification, but immediate alternatives are limited,” he said. Winners and Losers in the Trade War Referring to the tariff hike as a trade war, Dr Akash said, “This is a tariff war, and it is uncertain whether we will be the only losers—Trump himself could lose as well.” He explained that Trump’s policy aims to protect local industries and employment, but it also poses risks. “Affordable goods, particularly from China, will become expensive for American consumers, increasing their cost of living. Although their wages might rise, real income could decline,” he noted. Akash said the new tariff regime will affect not only China but also Bangladesh, Vietnam, and other developing countries. As a result, Bangladeshi export prices in the US will rise, potentially reducing demand and decreasing foreign currency earnings. How Much Will Bangladesh Suffer? Dr Akash believes the 37% tariff on Bangladeshi products will have a severe impact. “Seventy-six percent of our export revenue comes from the garment sector. If prices rise by 37%, significant repercussions are inevitable.” The extent of the damage depends on the distribution of Bangladeshi exports across different regions. Global reactions to US ‘Reciprocal’ tariffs remain cautious “A substantial portion of our apparel exports go to the US, so this will be a major blow,” he said. Dr Mahfuz Kabir added that the US currently accounts for 19% of Bangladesh’s total exports. “With one-fifth of our exports going there, a 37% tariff will have a considerable impact,” he said. India and Pakistan to Benefit Dr Kabir argued that the primary beneficiaries of this tariff hike will be India and Pakistan. “Many of Bangladesh’s orders will shift to these countries, which is deeply concerning.” The US has imposed tariffs of 26% on Indian and 29% on Pakistani products. As India’s export range closely resembles Bangladesh’s, it may gain a competitive advantage. Dr Kabir warned that American buyers might prioritise India and Pakistan over Bangladesh due to rising costs, while also exploring closer alternatives such as Honduras. “Even though Vietnam faces a 44% tariff—higher than Bangladesh—its trade agreement with the US might offer it some leverage,” he noted. “Sri Lanka faces a similar situation, but neither country is in a position to overtake Bangladesh in competition.” Nonetheless, new competitors such as Honduras, Egypt and Turkey are emerging, posing fresh challenges for Bangladesh’s apparel exports. Engaging with Trump Administration To mitigate the impact of the tariffs, Bangladesh must engage in discussions with the Trump administration, according to Dr Kabir. “We must leverage the TICFA agreement. While the tariff decision was made via executive order, complicating negotiations, a strategic approach is necessary.” TICFA mandates bilateral discussions in case of trade disputes. But, since this decision was taken at the presidential level, bypassing the US Trade Department, direct negotiations may prove challenging. “If Bangladesh’s National Board of Revenue (NBR) reviews tariffs on US imports, the Commerce Ministry can inform the US Trade Department. Meanwhile, the Foreign Ministry should attempt to engage directly with the White House,” he suggested. Dr Kabir believes that sending a strong message to the US about reviewing tariffs on American products could encourage the Trump administration to reconsider its stance. “If we assess our tariff structure on US imports, Trump might reciprocate. Since Bangladesh does not import substantial daily necessities from the US, reducing tariffs will require broader trade adjustments.” Concerns of Industries Mohammad Hatem, President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), expressed grave concerns over the potential repercussions for the apparel sector. Trump’s promised ‘reciprocal’ tariffs unleashed on dozens of countries; Bangladesh slapped with 37% “We initially thought that if Bangladesh remained exempt from US tariffs, we could capitalise on export opportunities. However, the 37% tariff has nullified that advantage,” he said. Asked why Bangladesh will be hit with a higher tariff than China, India and Pakistan, Hatem explained that the decision stems from retaliatory tariff policies. “US exports to Bangladesh face a 74% tariff. Bangladesh, therefore, faced a 50% retaliatory tariff hike, putting us in a precarious position,” he said. Hatem urged the government to initiate bilateral talks with the US as soon as possible. “Given Bangladesh’s heavy reliance on US-imported yarn for garment production, both nations have vested interests. If we reach an agreement, the US administration may reconsider the imposed tariff,” he said. The 37% tariff on Bangladeshi products presents a formidable challenge, particularly for the country’s apparel sector. While diversification and strategic trade policies could provide long-term solutions, immediate negotiations with the Trump administration appear to be the best course of action. The coming months will determine whether Bangladesh can successfully navigate this economic hurdle.

US President Donald Trump has criticised the United States Agency for International Development (USAID) for allegedly allocating funds to interfere in India's electoral process, questioning why American taxpayers' money was being sent to the country. Speaking at the Conservative Political Action Conference (CPAC) in Washington on Sunday, President Trump alleged that India already benefits from high tariffs on American goods and does not require financial assistance for its elections. "Eighteen million dollars for helping India with its elections. Why the hell? Why don’t we just go to old paper ballots and let them help us with our elections, right? Voter ID. Wouldn’t that be nice? We’re giving money to India for elections. They don’t need money," Trump remarked. The figure quoted by Trump could not be independently verified. A prior report from the Elon Musk-led Department of Government Efficiency (DOGE) suggested that $21 million had been allocated for "voter turnout" in India. "They take advantage of us pretty good. One of the highest tariffed nations in the world. We try and sell something, they have a 200 per cent tariff. And then we’re giving them a lot of money to help them with their election," he continued. India Responds to Trump's Allegations India's External Affairs Minister S Jaishankar addressed the concerns raised by Trump, stating that the government was looking into the matter. Trump says $29 million in USAID money went to firm 'with just 2 people' "Some information has been put out there by the Trump administration people, and obviously, that is concerning. I think, as a government, we’re looking into it. My sense is that the facts will come out. USAID was allowed here in good faith, to do good faith activities; now, suggestions are being laid out from America that there are activities which are in bad faith. It’s worrisome, and if there’s something to it, then the country should know who the people are involved in it," Jaishankar said. Meanwhile, the opposition Congress party has demanded a white paper on all foreign aid received by India from developmental agencies. Congress has also called for legal action against those propagating what it terms "baseless allegations" of foreign interference in Indian democracy. Congress spokesperson Pawan Khera countered Trump’s claim, stating, "More Indian news media outlets have fact-checked the claim by BJP and Modi government’s minister as untrue. Funds went to Bangladesh, not India; although India received USAID funds, it was not for increasing voter turnout." Allegations of Funding in Bangladesh In addition to his claims about India, Trump also alleged that an unnamed firm in Bangladesh had received $29 million in USAID funding. "Got USD 29 million. They got a cheque. Can you imagine? You have a little firm, you get 10,000 here, 10,000 there, and then we get 29 million from the United States government. There are two people working in that firm... I think they’re very happy, they’re very rich. They’ll be on the cover of a very good business magazine pretty soon for being great scammers," Trump alleged. Congress has urged Prime Minister Narendra Modi to personally address these claims and refute the allegations. The party has also criticised the ruling BJP, accusing it of exploiting Trump’s comments to advance conspiracy theories. Judge blocks Trump’s plan to place 2,200 USAID employees on paid leave "There is no record of a Consortium for Elections and Political Process Strengthening (CEPPS) programme matching the US government’s description in India. CEPPS did have a $21 million USAID contract, but it was for Bangladesh, not India," Khera stated. BJP Dismisses Congress’s Defence BJP leader Ajay Alok dismissed Congress’s statements as "baseless," asserting that the Modi government has significantly curtailed foreign aid flows. "We have already shown that the government got $2,119 million between 2004-14 and just $1.5 million between 2014-25. We are shutting down these things. The Indian government is now acting, the US government has issued a list of who has got the money from where... this is part of a deep state. The Bharat Jodo Yatra was also being funded from this money," Alok claimed. With both the Indian and Bangladeshi governments yet to issue a formal statement on the matter, the controversy is likely to continue, further complicating diplomatic relations between India and the United States ahead of key elections in both nations. Source: Agencies

US President Donald Trump has dismissed speculation about deporting Prince Harry, stating that he has no such intentions and remarking that the self-exiled royal already has "enough problems with his wife" Meghan Markle. Speaking to the New York Post, Trump said, "I don’t want to do that. I’ll leave him alone. He’s got enough problems with his wife. She’s terrible." His comments come amid growing scrutiny over Prince Harry’s immigration status in the United States. Concerns Over Prince Harry’s Visa Application The Heritage Foundation, a conservative think tank, has raised concerns regarding Prince Harry’s visa application, suggesting that he may have failed to disclose past illegal drug use, as mentioned in his memoir. The US Department of Homeland Security (DHS) is facing legal pressure to review his immigration status, though the issue remains under judicial consideration. Judge weighs next steps in Prince Harry’s immigration case Prince Harry and Meghan Markle stepped down as senior members of the British royal family in January 2020 and relocated to California. Since then, they have launched a non-profit organisation and undertaken various media and philanthropic projects. Trump’s History of Criticism Towards Harry and Meghan Trump has previously criticised Harry and Meghan, accusing them of receiving special treatment from the Biden administration. He has frequently ridiculed Harry, stating that he is "whipped" by Meghan. “I think poor Harry is being led around by the nose,” Trump told the New York Post. The Sussexes, in turn, have been outspoken critics of Trump. Meghan famously called him "divisive" and "misogynistic" during the 2016 US presidential election. Visa Scrutiny Amid Mass Deportations The debate over Prince Harry’s visa status unfolds against the backdrop of Trump’s stringent immigration policies. His administration has already initiated mass deportations, raising questions about the consistency of immigration enforcement. However, Trump’s latest remarks suggest that Prince Harry will not be targeted under these measures. Prince Harry, Meghan hope Kate and family can heal ‘privately and in peace’ While the DHS has yet to make a decision on Prince Harry’s visa, the controversy continues to generate political and public debate over whether the former royal is receiving favourable treatment in the US. Source: New York Post  

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