DHAKA—US buyers have begun halting orders from Bangladesh, the world’s second-biggest garment manufacturer, after punishing US tariffs, leaders of the South Asian nation’s critical industry warned on Monday.
Textile and garment production accounts for about 80 percent of exports in Bangladesh and the industry has been rebuilding after it was hit hard in a student-led revolution that toppled the government last year.
US President Donald Trump hit Bangladesh with punishing new tariffs of 37 percent on Wednesday, hiking duties from the previous 16 percent on cotton products.
Mohammad Mushfiqur Rahman, managing director of Essensor Footwear and Leather Products, said he received a letter from one of his buyers requesting a shipment halt.
“My buyer asked me to stop a shipment of leather goods — including bags, belts, and wallets — worth $300,000 on Sunday,” Rahman told AFP. AFP