“After the US imposed a 25-per cent tariff on China in 2016, our exports to the US initially declined, despite a rebound this year. So, I don’t believe there is a direct benefit for us,” he told a press briefing in Dhaka while discussing budget recommendations for the upcoming fiscal.
US tariffs on China are unlikely to create new export opportunities for Bangladesh, Centre for Policy Dialogue distinguished fellow Mustafizur Rahman recently said.
He cautioned the country’s export prospects may be ‘constrained’ and turn ‘stagnant’.
A key reason is China’s garment exports to the US largely consist of man-made fibre garments, whereas Bangladesh mainly exports cotton-based items.
A key reason is China’s readymade garment (RMG) exports to the United States largely consist of man-made fibre garments, whereas Bangladesh mainly exports cotton-based products, he was cited as saying by domestic media outlets.
“In the segment where China faces tariffs, Bangladesh does not directly compete with them. It is crucial to recognise the diversity within the RMG sector when analysing these trends,” he added.
Fibre2Fashion News Desk (DS)
