CHATTOGRAM, Aug 8 (BSS): The newly imposed 20 per cent counter-tariff on Bangladeshi exports to the United States took effect on Thursday, prompting a sharp surge in shipments from the Chittagong Port as exporters rushed to beat the deadline.
According to the Chittagong Port Authority (CPA), an additional 800 containers were being exported daily due to the last-minute push, with priority support extended to exporters.
Mohammad Hatem, President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said many exporters expedited shipments ahead of the August 7 cutoff.
"Those who had completed production early managed to export before August 1," he noted. As a result, exports rose by 25 per cent in July.
Abdus Salam, Managing Director of the Asian-Duff Group, reported that Bangladesh exported $3.96 billion worth of garments in July alone, $820 million of which went to the US. 60 per cent of that volume moved through the Chittagong Port.
The counter-tariff, which had earlier stood at 37 per cent, was reduced to 20 per cent following the third round of bilateral talks on July 31. However, with existing average US tariffs over 15 per cent, total duties on Bangladeshi goods remain above 35 per cent. Previously, tariffs on ready-made garments were around 16.5 per cent.
Trade analyst and former Bangladesh Tariff Commission member Mostafa Abid Khan clarified that tariff enforcement was based on the time of port release. He noted that Bangladesh retained a partial advantage due to the exemption of countervailing duties on US-origin raw materials -- critical, as the country's garment sector is heavily reliant on imported American cotton.
Ruhul Amin Sikder, Secretary General of the Container Depot Association, said exporters rushed containers to depots in advance to avoid the new tariffs.
"While monthly container exports typically range from 60,000 to 65,000, the figure jumped to 99,000 in July," he said, adding that 81,000 of those have already been shipped.
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