Former US President Donald Trump has made it clear that he is not considering suspending tariffs, although he indicated openness to negotiations. “Many countries are coming to us for deals, and they will make fair agreements. In some cases, they will pay significant tariffs,” Trump said. After speaking with Japanese Prime Minister Shigeru Ishiba, he added, “You have to open up your markets—we don’t sell cars in Japan, but Japan sells millions of cars in our country.” Trump also stated that even Israel, despite receiving $4 billion in US aid annually, won’t be exempt from tariffs.

Deputy Press Secretary Abul Kalam Azad Mazumder announced that Swedish firm Nilorn has signed a memorandum of understanding to establish a factory in the special economic zone in Araihazar, Narayanganj. The signing took place on the second day of BIDA’s four-day investment summit. Nilorn Bangladesh Ltd. Managing Director Mohammad Abdul Kaiyum and Bangladesh Special Economic Zone Managing Director Taro Kawachi signed the MoU.

As part of the ‘Bangladesh Investment Summit 2025,’ organized by the Bangladesh Investment Development Authority (BIDA), a delegation of 70 foreign investors visited two special industrial zones in Chattogram on the summit’s opening day. They toured factories and received a briefing from Youngone Corporation about its operations in the Korean Export Processing Zone (KEPZ). Investors inquired about product lines, export volumes, employment statistics, and challenges in foreign investment. Despite administrative hurdles, representatives noted that Bangladesh remains a profitable investment destination.

Commerce Advisor Sheikh Bashir Uddin has written to the U.S. Trade Representative seeking the removal of unfair tariffs on Bangladeshi exports. He noted that while Bangladesh imposes an average 6.10% duty on U.S. imports (with raw cotton and iron scrap at 0% and 1% respectively), the U.S. has withdrawn preferential treatment and imposed 15% tariffs on all Bangladeshi goods. Bangladesh is now considering adding 100 more U.S. products to its duty-free list as part of ongoing trade cooperation under the bilateral TIFA agreement.

Following a meeting with U.S. Chargé d’Affaires Tracey Ann Jacobson in Dhaka, Trade Adviser Sheikh Bashir Uddin said the counter-tariff measures by the Trump administration are unlikely to be suspended. “This gives us insight into how economies like ours are responding. We discussed barriers and aspirations and explored solutions,” he said, stressing that Bangladesh will adopt necessary economic steps to safeguard its interests.

UK Prime Minister Keir Starmer has pledged to protect Britain’s trade interests in response to former US President Donald Trump’s proposed “reciprocal tariffs.” While reaffirming the UK’s commitment to pursuing an economic agreement with the US, Starmer criticized the minimum 10% tariffs imposed on British goods, describing them as a significant threat.
Trump has also proposed a 25% tariff on UK steel, aluminum, and automobiles.
In response, the UK government is focusing on strengthening trade alliances and adopting new industrial strategies to shield the country’s trade sector from what Starmer called a “tariff storm.”

The government’s Chief Press Secretary Shafiqul Alam stated that two letters will be sent to U.S. authorities within 48 hours, requesting a delay in implementing the 37% tariff for three months and appealing for a review. One letter will be sent by the Chief Adviser to President Donald Trump, and the other from the Ministry of Commerce to the USTR. This move follows a Sunday meeting at the Ministry of Finance chaired by Economic Adviser Salehuddin Ahmed to discuss the issue.

Bangladesh’s economic advisor Salehuddin Ahmed stated that the impact of new US tariffs will be manageable. The government has initiated discussions with US authorities to mitigate the effects. He noted that recent efforts to control import costs have reduced the trade deficit, inflation was curbed during Ramadan and Eid, and foreign reserves are showing positive trends.

To attract more foreign direct investment (FDI), economists and business leaders have urged the interim government to take immediate steps to reduce the tariffs imposed by the United States.
BKMEA Executive Vice President Fazle Shamim Ehsan said, “We expected increased investments after the US imposed higher tariffs on China. But now, the same tariffs are being applied to us. If this continues, investment won’t come to Bangladesh.”
Selim Raihan, Executive Director of SANEM, emphasized the importance of sending a clear and positive message to the US.
Ehsan, Managing Director of Fatullah Apparels Ltd., echoed this sentiment, urging the government to take prompt action on tariff reductions.

Press Secretary Shafiqur Alam has stated that Bangladesh’s exports to the United States will not decline; rather, they are poised to increase. Following an emergency meeting chaired by the Chief Adviser on Saturday, he said, “We hope for a positive response. Export volumes are expected to grow, and steps will be taken accordingly—not just in the US but in all countries where Bangladesh exports.”
The meeting began at 7 PM and involved senior officials including the Chief Adviser, advisors for finance, commerce, and foreign affairs, secretaries of relevant ministries, and the Governor of Bangladesh Bank. Notably, BIDA held a three-hour meeting with major business leaders, giving significant consideration to exporters’ concerns.

U.S. stock markets took a major hit following China’s announcement of retaliatory tariffs, with major indices dropping around 6%.
After former President Trump imposed heavy tariffs on Chinese imports, China responded by slapping an additional 34% tariff on all U.S. goods starting April 10.
The S&P 500 fell 6%, Nasdaq dropped 5.8%, and Dow Jones declined 5.5%, while the Russell 2000 dipped 4%. Analysts say this is the worst trading day since the onset of COVID-19.

Canadian Prime Minister Mark Carney announced a 25% tariff on selected U.S. automobile imports in response to what he called violations of free trade principles. Though Canada was initially exempt from Trump’s global tariff measures due to USMCA compliance, new U.S. policies have targeted various goods including vehicles, steel, and aluminum.
Calling Trump’s trade policies a “tragedy,” Carney warned that they could destabilize the global economy and marked the end of an era of American economic leadership.

The interim government of Bangladesh has shown little enthusiasm for implementing the IMF’s loan conditions, deeming them contrary to national interests. As a result, the IMF has delayed three installments of its loan disbursement. The key conditions set by the IMF include raising the exchange rate of the dollar, increasing electricity prices, and boosting tax revenue. However, with Bangladesh’s economic condition improving, the government feels less pressured to comply. Meanwhile, the IMF faces mounting resistance from multiple nations due to its stringent policies, forcing it to consider relaxing the conditions for Bangladesh.

In response to the recent tariff hikes imposed by the US—ranging from 15% to 37% on Bangladeshi products—the government is reviewing import duties on US goods. Chief Adviser’s Press Secretary, Shafiqul Alam, stated, “The National Board of Revenue is evaluating options for tariff rationalization.” Special Assistant to the Chief Adviser, Faiz Tayeb Ahmed, emphasized that while global economies brace for these new trade barriers, Bangladesh is positioning itself as an attractive destination for international investors by ensuring streamlined registration processes, export incentives, secure industrial zones, stable electricity, and reliable internet in its EPZs, Hi-Tech Parks, and Special Economic Zones. The US remains the largest market for Bangladesh’s garment industry, raising concerns over the long-term impact of these tariffs.

In an effort to strengthen regional stock market cooperation, the Dhaka Stock Exchange, Colombo Stock Exchange, and Pakistan Stock Exchange recently signed an agreement in Colombo. The agreement aims to facilitate joint initiatives in digital transformation, development of new financial products, market oversight, investor protection, human resource development, and cross-exchange training programs. Additionally, long-term plans will explore cross-border listings, brokerage partnerships, and institutional connectivity.