The trade gaps, said the White House, were driven by an "absence of reciprocity" in relationships and other policies like "exorbitant value-added taxes."

The extent of the latest bout of tariff slaps across so many countries has come as a major shock and is unprecedented

The penalties announced by Trump on Wednesday triggered a plunge in world financial markets and drew condemnation from other leaders reckoning with the end of a decades-long era of trade liberalization.

Donald Trump’s second trade war is a battle of one against all. Reciprocal tariffs announced on Wednesday by the White House hit China with a hike of 34 percentage points, taking the fresh levies on exports from the People’s Republic up 54 percentage points in the 10 weeks since the US president took office.

India on Thursday reacted cautiously to US President Donald Trump’s sweeping tariffs with exporters saying the flat 27 percent on exports imposed on fifth-largest economy could have been far worse.

The government will shortly write to the United States Trade Representative (USTR), urging it to reduce what it describes as an irrational imposition of 37 percent reciprocal tariffs on Bangladeshi exports, a top official said yesterday.

US President Donald Trump has slapped punishing new tariffs on imports of Chinese goods, deepening a trade war between the world’s two largest economies.

The WTO Secretariat is closely monitoring and analysing US tariff measures

The average US tariff surged from 2.5 percent to 20 percent with a single executive action

The research aims to identify the most affected products and the extent of duties imposed

Bangladesh's stock market has been struggling for several years due to the poor performance of listed firms, exacerbated by the Covid-19 pandemic and the Russia-Ukraine war.

He urged exporters and businesses to closely monitor updates from the US Treasury and relevant authorities

Khan believes non-leather footwear dependency is not as critical compared to other industries

“Such tariff measures could significantly hurt exports, particularly the RMG sector," said Raihan

His remarks come as Bangladesh is set to face a 37 percent tariff on its exports to the US

"We need a comprehensive review," said Mahfuz Kabir, research director of BIISS

Japanese firms are the biggest investors into the United States but Tokyo has failed to secure an exemption, with Trump announcing a hefty 24-percent levy on Japanese imports

The panic came after the US president on his so-called Liberation Day unveiled a blitz of levies aimed at correcting trade deficits

White House told reporters that a "baseline" 10 percent tariff would start on 12:01am (0401 GMT) on April 5

Trump said that a baseline tariff of 10 percent would be imposed on imports from a wide range of other countries