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Leading Garment Producer Bangladesh Holds Crisis Talks On US Tariffs [Barron's]

Gap, Inc. (The) (GAP) 
US:NYSE Investor Relations: greatatlanticinc.com
Company Research Source: Barrons
Textile and garment production accounts for about 80 percent of exports in the South Asian country, and the industry has been rebuilding after it was hard hit in a revolution that toppled the government last year. US President Donald Trump on Wednesday slapped punishing new tariffs of 37 percent on Bangladesh, hiking duties from the previous 16 percent on cotton and 32 percent 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 around 20 percent of Bangladesh's total ready-made garments exports. "Chief Adviser Professor Muhammad Yunus has convened an emergency meeting... to discuss the US tariff issue," a government statement read, with the meeting to take place late Saturday in the capital Dhaka. Top experts, advisers and officials will attend, it added. Bangladesh's tax authority, the National B Show less Read more
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