In case of a full-scale trade war, average tariffs could rise to as high as 30 per cent for American exporters, 35 per cent for the European Union and 40 per cent for Chinese exporters. Bangladeshi exporters may face an average tariff of over 40 per cent. The country currently enjoys around three per cent tariff on an average in the global market.

Exporters of India and Pakistan would face tariffs of 31.70 per cent and 40 per cent respectively. The tariff for Sri Lanka would be around 47 per cent. Bangladesh already faces a 15 per cent average tariff in the US market. In the EU, the country has tariff-free market access.

Least Developed Countries including Bangladesh will continue to enjoy tariff-free access to different developed countries for the time being. These countries may face higher tariffs only if there is an all-out trade war where every country will increase its tariff. However, the increased tariffs are calculated under the assumption that all countries would engage in a trade war and set tariffs to their optimal mercantilist levels.

The US is imposing high tariff on the imports of products it thinks should get protection. But other countries are also retaliating.