Bangladesh, the world's second-largest garment producer, fears pain from Trump tariffs: ‘We were not ready for this' [Fortune]
ASSOCIATED BRI/F UNSP/ADR (ASBFY)
NASDAQ:AMEX Investor Relations:
abf.co.uk/investorrelations
Company Research
Source: Fortune
“Buyers will go to other cost-competitive markets—this is going to be a massive blow for our industry,” said Rakibul Alam Chowdhury, chairman of RDM Group, a major manufacturer with an estimated $25 million turnover. “We will lose buyers.” U.S. President Donald Trump on Wednesday slapped punishing new tariffs of 37% on Bangladesh, hiking duty from the previous 16% on cotton and 32% on polyester products. Bangladesh exports $8.4 billion of garments annually to the United States, according to data from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the national trade body. That totals some 20% of Bangladesh's total ready-made garments exports. “We were not ready for this,” said Anwar Hossain, administrator of the BGMEA. “It came all of a sudden.” But Hossain said other regional trade rivals were in a worse situation. “Compared to our competitors like China, Vietnam and Sri Lanka, we are still ahead as their tariff is higher than us,” Hossain said.
Show less
Read more
Impact Snapshot
Event Time:
ASBFY
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
ASBFY alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
ASBFY alerts
High impacting ASSOCIATED BRI/F UNSP/ADR news events
Weekly update
A roundup of the hottest topics
ASBFY
News
- Tracking the Evolving Narrative for Associated British Foods After Primark Separation and Buyback Moves [Yahoo! Finance]Yahoo! Finance
- Associated British Foods (OTCMKTS:ASBFY) was downgraded by analysts at Jefferies Financial Group Inc. from a "hold" rating to an "underperform" rating.MarketBeat
- Tanishq Debuts in Orlando, Introducing Fine Indian Jewelry to a Global Gateway [Yahoo! Finance]Yahoo! Finance
- My dad prioritized experiences over possessions. Because of this, our family has traveled to 20 countries together. [Business Insider]Business Insider
- No Praise Needed for Primark's Sustainability Gains, Interim CEO Says [Yahoo! Finance]Yahoo! Finance