Dhaka, July 27 (V7N) – The Asian Development Bank (ADB) has expressed concern that newly imposed U.S. counter-tariffs may negatively impact Bangladesh’s GDP growth in the current fiscal year. According to the July edition of the ADB’s Asian Development Outlook, the growth forecast has been revised downward due to a combination of slowing exports, weakness in the industrial sector, and the looming effect of the tariff hike.

While the ADB has not specified a new figure for GDP growth, the April edition of its report projected a 5.1% growth for Bangladesh in the 2025–26 fiscal year.

In April, the U.S. administration announced a 37% counter-tariff on certain Bangladeshi exports, which was later revised to 35%, scheduled to take effect from August 1. These tariffs are expected to affect key export sectors, particularly ready-made garments, which constitute the backbone of Bangladesh’s export economy.

The Bangladesh government is currently engaged in negotiations with the U.S. to mitigate the impact of these measures. However, industry insiders fear that higher tariffs could significantly reduce export volumes, posing a threat to the country’s economic momentum.

Meanwhile, the ADB’s July update also noted a slight decrease in inflation during the outgoing fiscal year, offering a small relief amid broader economic uncertainties.

END/RH/AJ