Last update on: Thu Apr 3, 2025 02:21 PM
A detailed analysis is needed to assess the full impact of the recently imposed US tariffs on Bangladeshi products, said Abdul Muktadir, president of the Bangladesh Association of Pharmaceutical Industries (BAPI).
“We need to thoroughly examine the US portal to identify the specific sectors and products affected. While the announcement sounds general, the real impact will only become clear once we break it down sector by sector,” said Muktadir, who is also the chairman and managing director of Incepta Pharmaceuticals Ltd.
Full details of the tariff structure are yet to be published, leaving stakeholders uncertain about the extent of the changes for individual products, he said.
“We will have to analyze vote pages, tariff cards, and other related documents to determine the specific items affected,” Muktadir added.
He urged exporters and businesses to closely monitor updates from the US Treasury and relevant authorities, as more information is expected to be released gradually.
The National Board of Revenue (NBR) has also become active on the issue, with initial discussions already underway.
“If duties on key items such as electrical products are adjusted downward, we could see immediate positive changes. Some essential commodities, like soybean and natural gas, are already exempt from these duties, which is a relief,” he said.
Experts, however, pointed out that Bangladesh’s imports from the US in these affected categories are relatively small, amounting to around $2 billion, suggesting that the overall impact may not be severe.
“Still, any changes could have ripple effects, and we are monitoring the situation closely. Things might change faster than expected,” Muktadir mentioned.
According to BAPI, Bangladesh exported pharmaceutical products worth $21.26 million to the US in 2024.
The country’s pharmaceutical exports to the US have been growing steadily, with companies such as Eskayef and Renata now directly exporting to the market, while Beximco Pharmaceuticals was the first to enter after obtaining US FDA approval.
