ADB Warns U.S. Tariffs Hinder Bangladesh’s Growth
(MENAFN) The Asian Development Bank (ADB) has issued a cautionary statement, warning that newly announced U.S. tariffs could severely hinder Bangladesh’s economic performance.
In its July update of the Asian Development Outlook, the Manila-headquartered financial institution downgraded Bangladesh’s growth forecast for the 2025–2026 fiscal year (July 2025 to June 2026), citing reduced momentum in both exports and industrial activity. The potential fallout from U.S. tariff measures was also highlighted as a key concern.
Back in April, the ADB had projected a 5.1 percent GDP growth for Bangladesh during that fiscal period.
The warning comes in the wake of a U.S. government decision to impose a steep 35 percent tariff on goods imported from Bangladesh, set to be implemented on August 1.
Trade experts have voiced alarm, pointing out that Bangladesh is already operating at a competitive disadvantage in the U.S. apparel market. The country’s readymade garment industry is particularly vulnerable—this sector not only contributes over 80 percent of Bangladesh’s total export revenue but also provides jobs to more than 4 million workers.
Trade analysts noted that Bangladesh faces a significant competitive gap in the U.S. apparel market, where its readymade garments—considered the backbone of the nation's economy—make up over 80 percent of total export revenues and support more than 4 million jobs.
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