US Treasury Secretary Scott Bessent has warned that if peace talks between Donald Trump and Vladimir Putin fail, India could face additional secondary tariffs.
The US has already imposed a 25% fine and a 25% tariff on India for purchasing oil and weapons from Russia. Bessent urged European nations to join in on secondary sanctions, saying they should “stand together” in pressuring Russia. Today’s Trump-Putin meeting in Anchorage, Alaska, will focus on a Ukraine ceasefire.

Bangladesh continues to be on the World Bank’s red list for rising food inflation, where it has remained since June 2021. Between then and last July, monthly food inflation consistently stayed above 5%, with price hikes ranging from 5% to over 14% depending on the product.
To exit the red list, monthly food inflation must drop below 5% — something last achieved in May 2021 at 4.87%. Although prices eased during Ramadan and into June, they have started climbing again in recent months.

Bangladesh has sought Malaysia’s support to establish a Halal Industrial Park to tap into the fast-growing global halal products market. On Tuesday, the Chief Adviser met Malaysian halal industry officials led by Datin Paduka Hajah Hakimah, Halal Coordinator at the Prime Minister’s Office. They highlighted that the halal market, currently worth $3 trillion, is expected to reach $5 trillion by 2030. Malaysia already operates at least 14 halal industrial parks with significant market share. Bangladesh, where only the Islamic Foundation issues halal certification—so far to just 124 firms—could play a major role with improved infrastructure and certification capacity. BIDAR’s Chowdhury Ashiq Mahmud called for Malaysian help in outlining park requirements, noting growing export interest among local certified firms.

Economic Adviser Salehuddin Ahmed has said that the scale of looting from Bangladesh’s banking sector is unparalleled anywhere in the world. He blamed rampant disorder, corruption, and a lack of governance for pushing the economy into an “ICU” at one point. In one case, he discovered that 95% of loans in a bank were non-performing. However, he noted that conditions have now improved, with inflation down to around 8%, GDP growth at 3.9% and projected to reach 5–5.7% by year’s end. While acknowledging that not all expectations were met, he insisted progress has been made. He also confirmed that Bangladesh Bank is working on unification, though political changes could alter that plan.

Chief Adviser Muhammad Yunus has invited Malaysian companies to invest in Bangladesh, highlighting the country’s new business-friendly initiatives under the interim government.
Speaking at a business forum, Yunus noted that in the past, Bangladesh’s business environment did not progress as he had hoped, but now “New Bangladesh” is fostering innovation, with business potential being a key element.
He emphasized that Bangladesh offers opportunities for young and creative individuals and urged investors to tap into the talent of young Bangladeshi expatriates abroad, who he said are always eager to contribute to their homeland.
The event began with a presentation by BIDA’s Chowdhury Ashiq, showcasing Bangladesh’s competitive advantages and the government’s efforts to remove tariff and non-tariff barriers.

London – Authorities in the United Kingdom have initiated the sale of assets belonging to former Bangladesh Land Minister Saifuzzaman Chowdhury to settle debts amounting to $350 million. Creditors include Singapore’s DBS Bank, British Arab Commercial Bank, and Bangladesh’s United Commercial Bank.
The move follows earlier money-laundering allegations against Chowdhury and investigations by Bangladeshi authorities, which uncovered his extensive UK holdings. The UK’s National Crime Agency (NCA) seized several of his properties in June at Bangladesh’s request. Six of his companies are now under court-appointed administration. Chowdhury maintains his innocence, claiming the assets were purchased with legitimate funds.

India has imposed immediate restrictions on importing four types of Bangladeshi jute products through land borders: jute fabric, jute rope, rope made from jute products, and jute sacks.
The new directive from India’s Directorate General of Foreign Trade (DGFT) mandates that these items must now enter India via sea through Mumbai’s Nhava Sheva port.
Currently, less than 1% of Bangladesh’s jute exports to India go by sea, with the rest transported by land. This is not the first time India has restricted overland imports of jute products from Bangladesh.

Chattogram Port plays a critical role in Bangladesh’s economy, handling 90% of the nation’s trade, says BIDA Executive Chairman Chowdhury Ashik Mahmud. After visiting the port for the first time in three months, Ashik revealed that the government aims to appoint operators for the Chattogram New Container Terminal (NCT), Laldia Char, and Bay Terminal by year-end. “Every investor asks about our ports among their top five concerns,” he said. Laldia Container Terminal alone has attracted foreign investment potential of nearly BDT 5,000 crore—the largest single foreign direct investment (FDI) in Bangladesh’s history. Container handling has increased by nearly 30% compared to last month, with ship clearance times reduced by eight hours, thanks to improved operations since Chattogram Dry Dock Ltd. took charge. Weekly inter-ministerial meetings continue to expedite the operator selection process, aiming for completion before year-end.

Bangladesh Bank will release a new Tk 100 banknote with a fresh design on August 12, bearing the signature of Governor Dr. Ahsan H. Mansur. The note is part of a new series themed “Historic and Archaeological Architecture of Bangladesh,” featuring images of the Sixty Dome Mosque and the Sundarbans. Initially available from the Motijheel office, the note measures 140mm by 62mm, has a blue color scheme, and includes a watermark of the Royal Bengal Tiger.

Bangladesh Bank Governor Ahsan H. Mansur has revealed that printing, storing, transporting, and distributing banknotes nationwide costs around Tk 20,000 crore annually. Speaking at a CPD dialogue, he urged reducing reliance on physical cash and expanding cashless transactions.
The central bank is promoting QR code-based payments, making it mandatory for all licensed institutions. Mansur said this would make transactions faster, safer, and more transparent for both businesses and consumers. He also announced efforts to make quality smartphones available for Tk 6,000–7,000, enabling universal smartphone access to support digital payments.

Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of the Bangladesh Investment Development Authority (BIDA), announced that the government intends to finalize the recruitment of foreign operators for the country’s major ports by December this year.

Speaking after inaugurating the agent desk at Chattogram port, he said ongoing port reforms are expected to reduce corruption and harassment. The port’s capacity is projected to multiply several times by 2030. Since the Navy-run Dry Dock Limited took over management of the New Moring Container Terminal, container handling has increased by 30%, and ship waiting times have dropped by 13 hours.

At a CPD seminar on Sunday, Bangladesh Bank Governor Dr. Ahsan H. Munsur said political stability has yet to be achieved in the country, making it unrealistic to expect a sudden surge in investment. He expressed optimism that inflation will drop below 5% this year and announced that a new directive on digital banks will be issued this month, enabling interested institutions to apply. Speakers at the event stressed that inflation remains high, urging immediate relief measures for low-income families. They noted public expectations of the government, including the long-promised universal health insurance scheme, which has yet to be implemented. Concerns were also raised over the impact of new U.S. tariff policies, with calls to diversify export products.

Facing a steep 50% tariff imposed by the Trump administration on Indian goods, leading Indian apparel manufacturer Pearl Global is relocating its production from India to four other countries, including Bangladesh. The company, which supplies to major U.S. retailers like Gap and Kohl's, has received urgent concerns from buyers about the tariff impact.

CEO Pallab Banerjee stated that to avoid the high tariffs, production will now be shifted to 17 factories across Bangladesh, Indonesia, Vietnam, and Guatemala. "Some buyers are still interested in Indian products," Banerjee said, "but they want us to share the burden of the increased tariffs — which we cannot afford."

Economic Adviser Dr. Salehuddin Ahmed has assured that the upcoming national election will receive all the necessary funding. "There will be no issues with financing the election," he said. On U.S. tariff changes, he noted, "What the U.S. has done is not exactly comforting, but compared to other countries, Bangladesh is not in a dire position."

Dr. Ahmed added that the country's garment and knitwear sectors can adapt quickly to the new regulations, although the textile weaving sector may face some challenges. Regarding further negotiations with the U.S., he confirmed talks are ongoing, including discussions with the Vice President of the U.S. Chamber of Commerce, who reportedly expressed a positive outlook.

"A formal agreement is yet to be signed. We'll need to examine which tariffs to reduce and which imports to allow," he said. "This isn't a multilateral negotiation; it’s sensitive and strategic—so not everything can be disclosed. Countries like Vietnam, China, North Korea, South Korea, India, and Pakistan are also competitors."

U.S. President Donald Trump has issued a new executive order imposing an additional 25% tariff on Indian goods, bringing the total tariff to 50%. The decision is reportedly in response to India's continued direct and indirect import of Russian oil.

This additional tariff adds to a previously announced 25% duty, doubling the pressure on India. Trump had earlier warned of harsher economic penalties if President Putin failed to take meaningful steps toward ending the war in Ukraine. The new tariffs are expected to strain U.S.-India relations further.

The development comes shortly after reports from Indian government sources indicated that Prime Minister Narendra Modi is planning to visit China later this month—his first visit in nearly seven years.