US President Donald Trump has announced a 35% tariff on Bangladeshi goods, slightly lower than the 37% rate floated three months ago but far higher than the 20% secured by Vietnam under a new trade deal.

Trump revealed the decision on his Truth Social account early Tuesday Bangladesh time, in letters to Chief Adviser Muhammad Yunus and other world leaders. 

The new rates take effect August 1.

Neighboring countries like Myanmar and Laos face even higher tariffs at 40%, while Cambodia and Thailand face 36%. Trump warned of further hikes if nations retaliate with their own import taxes.

A Bangladeshi team is still in Washington for last-minute talks, but Trump indicated tariffs could be reduced only if Bangladesh opens its markets and removes barriers for US products.

The hike deals a blow to Bangladesh’s ready-made garments sector, which previously faced a 15% tariff in the US. 

In contrast, Vietnam secured a significant cut by eliminating its own tariffs on US goods.

MN/