Bangladesh manufacturers worried about losing market share in US
Business
Bangladesh manufacturers worried about losing market share in US
NEW YORK (AP) Factory workers operate machines to make garments at UHM Ltd. in Narayaganj, Bangladesh, Tuesday, April 8, 2025. (AP Photo/Mahmud Hossain Opu)
Garment manufacturers and exporters in Bangladesh, the world’s second largest after China, are worried about losing its share in the apparel market of the United States, which is imposing new tariffs of 37%.
The U.S. is Bangladesh’s largest market as a single destination where the country’s nearly $39 billion industry exported apparel goods worth $7.34 billion in 2024.
Now, Bangladesh’s manufacturers say their U.S. buyers are halting orders, which could help competitors like India and Pakistan overtake Bangladesh in the U.S. market.
Bangladesh has already sought postponement of the application of the new tariff for three months to help the country assess the situation and smoothly implement its initiatives.
Asif Ashraf, managing director of Urmi Group, says they are worried about the U.S. market “because it will change the global equilibrium.” The sector employed about 4 million workers, mostly women from rural areas, and the industry accounts for about 80% of the country’s total annual exports.
