[🇧🇩] Trump's Victory/Tariff/ Bangladesh

Saif · Feb 23, 2025

$29m spent to prop up ‘radical left communist’ in Bangladesh: Trump

US President Donald Trump has doubled down on his outrage over USAID’s spending, accusing the agency of funnelling $29 million to prop up a “radical left communist” in Bangladesh.

www.thedailystar.net

$29m spent to prop up ‘radical left communist’ in Bangladesh: Trump

Photo: AFP

US President Donald Trump has doubled down on his outrage over USAID's spending, accusing the agency of funnelling $29 million to prop up a "radical left communist" in Bangladesh.

Speaking at the Conservative Political Action Conference (CPAC) in Washington on Saturday, Trump fumed, "$29 million goes to strengthen the political landscape and help them out so that they can vote for a radical left communist in Bangladesh. You've got to see who they supported!"

It was the second straight day of blistering attacks on the USAID grant, after his fiery remarks at the White House Governors Working Session on Friday.

Trump claimed the $29 million fund landed with an obscure firm that he said was "a little outfit" with just two employees.

"They got $29 million. A cheque! Imagine scraping by with $10,000 here, $10,000 there -- and bam, $29 million from the US government," he said.

"Two people! They're very happy. Very rich. They'll be on the cover of a top business magazine -- for being great scammers," quipped the US president.

Trump's ire extended to India, too. At CPAC, he questioned an $18 million USAID grant for elections there, asking, "Why the hell? Why don't we use paper ballots and let them help us with our elections? Voter ID—that'd be nice. We're giving money to India for elections. They don't need it. They slap 200% tariffs on us, and we're handing them cash!"

On February 16, Elon Musk-led US Department of Government Efficiency (DOGE) announced that it has taken new measures to save US taxpayers money by cutting funding to 17 projects across the globe, including one in Bangladesh.

In Bangladesh, the Strengthening Political Landscape (SPL) programme -- backed by USAID and UK's DFID, and run by Democracy International from 2017 to 2024 -- aimed to boost political party capacity, strengthen party-constituent ties, and reduce violence.

Saif · Feb 24, 2025

Tariff weaponising by US, others concerning for Bangladesh: Rehman Sobhan

Economist Rehman Sobhan on Monday said that the world of liberalisation and globalisation was now in retreat amid weaponising the tariff by powerful nations, causing concerns for Bangladesh...

www.newagebd.net

Tariff weaponising by US, others concerning for Bangladesh: Rehman Sobhan
Staff Correspondent 25 February, 2025, 00:08

Rehman Sobhan

Economist Rehman Sobhan on Monday said that the world of liberalisation and globalisation was now in retreat amid weaponising the tariff by powerful nations, causing concerns for Bangladesh.

‘Now tariffs and a whole variety of other economic and trade sanctions are being used as political instruments by particular countries which are really the powerful ones,’ he said while taking part in the first day of a two-day conference on the ‘Recommendations by the task force on re-strategising the economy’ in the capital Dhaka.

Arranged by the Centre for Policy Dialogue and the 12-member task force, the inaugural session titled ‘Strategic policy realignment to boost investment and achieve export’ was, among others, participated by commerce adviser Sk Bashir Uddin and former commerce minister Amir Khosru Mahmud Chowdhury.

Moderated by task force chief KAS Murshid, keynotes were presented by task force members Selim Raihan and Mohammad A Razzaque at the session with calls for implementing the task force’s recommendations aiming at further trade liberalisation.

Rehman Sobhan, however, said that bilateral deals with countries from the European Union countries to the United States to China to India were going to determine the new trading regime that had to be dealt with carefully by Bangladesh.

He observed that the US might put a 30 per cent tariff on China before cutting it to 10 per cent on the back of political deal.

He said that reform proposals should be based on ability of the government bodies to operationalise and activate those.

While highlighting the major reform proposals of the task force, Murshid identified the lack of implementation capacity as a major problem.

He was surprised when the commerce adviser during his speech said he was yet to receive a copy of the task force report.

The task force, formed on September 10 past year, submitted strategies to boost the economy and mobilise resources for equitable and sustainable development on January 30.

The commerce adviser criticised the ousted Awami League regime, saying that every sector of the economy had been criminalised in the past decade.

‘Unnecessary projects and money laundering caused a significant damage to the country’s economy,’ he said, adding that manufacturing raw materials for the readymade garment sector could ensure the much needed diversification of the sector.

Amir Khosru Mahmud Chowdhury said that he supported liberalisation of trade policy and easing doing business without which Bangladesh could not go forward.

‘We will go for deregulation,’ he said adding that the economic diplomacy should be given priority.

Economist Mustafizur Rahman and Foreign Investors’ Chamber of Commerce and Industry president Zaved Akhtar, among others, took part in the discussion.

Saif · Mar 3, 2025

$29m USAID funding: Foreign ministry refutes Trump’s claim

US President Donald Trump’s allegation that USAID provided $29 million to an organisation owned by two persons in Bangladesh is not true, said the Ministry of Foreign Affairs yesterday.

www.thedailystar.net

$29m USAID funding: Foreign ministry refutes Trump’s claim

US President Donald Trump's allegation that USAID provided $29 million to an organisation owned by two persons in Bangladesh is not true, said the Ministry of Foreign Affairs yesterday.

"Such projects are executed under the Development Objective Assistance Agreement (DOAG) between Bangladesh and the US, ensuring no individual influence in the decision-making process," it said in a statement.

Addressing the White House Governors Working Session on February 20, Trump claimed that the $29 million USAID fund landed with an obscure firm that he said was "a little outfit" with just two employees.

"Two people! They're very happy. Very rich. They'll be on the cover of a top business magazine -- for being great scammers," quipped the US president.

At another event on February 21, Trump again accused the agency of funneling $29 million to prop up a "radical left communist" in Bangladesh – triggering question among public mind.

Following that, the foreign ministry investigated the matter and issued the statement.

It said a USAID-funded project in Bangladesh -- Strengthening Political Landscape (SPL) -- was implemented with a budget of $29 million.

During President Trump's first term, USAID selected Democracy International (DI), a US-registered organisation -- to implement the project. Multiple international organisations participated in a competitive bidding process, and USAID made its decision transparently. The contract was signed in March 2017, and DI subsequently began implementation. The project duration was later extended, with funds disbursed in phases.

Initially, SPL was a five-year project with a budget of $14 million. It was managed by USAID and co-funded by the UK's development agency DFID (now FCDO), which committed $10 million.

The project aimed to reduce political violence, foster peaceful coexistence among political parties, enhance their capacities, improve internal democratic practices, and promote representative leadership. DI also conducted survey activities in Bangladesh under the project.

The statement said USAID projects are subject to strict US government financial management policies, including rigorous auditing and record-keeping for years after completion. If necessary, re-audits are conducted.

The investigation confirms that DI implemented the SPL project in Bangladesh during President Trump's first term, and the claim that the project was awarded to a privately owned Bangladeshi organisation is false.

Saif · Apr 2, 2025

Bangladesh faces 37% US tariff under new Trump trade policy

US government claims Bangladesh effectively imposes a 74 percent tariff on American goods

www.thedailystar.net

Bangladesh faces 37% US tariff under new Trump trade policy

US President Donald Trump holds a signed executive order after delivering remarks on reciprocal tariffs during an event in the Rose Garden entitled "Make America Wealthy Again" at the White House in Washington, DC, on April 2, 2025. Photo: AFP

The United States has announced a 37 percent tariff on imports from Bangladesh as part of President Donald Trump's sweeping new "Reciprocal Tariffs" policy.

According to a chart published by the White House today, the US government claims Bangladesh effectively imposes a 74 percent tariff on American goods. In response, a 37 percent "discounted reciprocal tariff" will now be levied on Bangladeshi products entering the US market.

The move, part of Trump's "Liberation Day" initiative, aims to counter what his administration describes as unfair trade practices by countries that maintain high barriers against US exports. The policy introduces a baseline 10 percent tariff on all imports, with significantly higher rates applied to nations the administration says engage in currency manipulation, protectionism, or impose other non-tariff barriers.

The announcement is likely to have a major impact on Bangladesh, whose economy is heavily dependent on exports, particularly garments, to the US, its single largest export destination. Industry leaders in Dhaka have expressed concern that the steep tariff could undercut the country's competitive advantage.

India, another major South Asian trading partner, is also affected by the policy. The US has imposed a 26 percent reciprocal tariff on Indian goods, citing a 52 percent barrier on American exports to India.

Pakistan faces a 29 percent tariff under the policy, reflecting what the administration says is a 58 percent trade barrier against U.S. products.

The White House has defended the new tariff structure as a long-overdue corrective to what it views as decades of one-sided trade relationships. Critics, including economists and some trade groups, argue the policy could trigger retaliatory measures and raise costs for US businesses and families.

The 37 percent tariff places Bangladesh among the higher-penalised countries under the policy, just behind Cambodia (49 percent) and Sri Lanka (44 percent).

China, which has long been a target of US trade actions, will face a 34 percent tariff, while the European Union will see a 20 percent levy. Vietnam, another key player in the global trade landscape, will bear a 46 percent tariff on its exports to the US.

Saif · Apr 3, 2025

https://www.thedailystar.net/news/bangladesh/diplomacy/news/tariff-issue-will-be-resolved-through-talks-3862946

Tariff issue will be resolved through talks
Yunus hopes

Chief Adviser Prof Muhammad Yunus has expressed strong hope that there will be positive progress in resolving the tariff issue through talks with the US government.

"We are studying it. Since it is negotiable, we will negotiate, and I am sure we can craft out the best deal," said the Chief Adviser's Press Secretary Shafiqul Alam, quoting Prof Yunus.

Talking to BSS in Bangkok about the 37 percent tariff imposed by the US on Bangladeshi products, Shafiqul Alam said, "The whole issue is still at the early stages of discussion. We are reviewing it and we are hopeful that the steps we are taking will help make our relations with the US stronger in the coming days."

He said the interim government hopes that it will be able to move towards a solution that would be a win-win situation for both countries.

"We will do something that will protect the interests of both the US and Bangladesh," the press secretary said, adding that Bangladesh continues to communicate with the US to this end.

In the morning, Shafiqul said Bangladesh is reviewing its tariffs on products imported from the United States.

"The National Board of Revenue is identifying options to rationalise tariffs expeditiously, which is necessary to address the matter," he wrote on a Facebook post this morning.

Shafiqul said the United States is a close friend of Bangladesh and its largest single-country export destination.

The interim government has been working with the US since the Trump Administration took over to enhance trade and investment cooperation between the two countries, he said.

"Our ongoing work with the US government is expected to help address the tariff issue," the press secretary said.

The United States has recently announced a 37 percent tariff on goods imported from Bangladesh as part of US President Donald Trump's new "reciprocal tariff" policy.