Will Donald Trump give GSP facility back to Bangladesh?

[Riyad]

BNP's chairperson Khaleda Zia openly requested US government in an newspaper article to stop providing GSP to Bangladesh because 'there is no democracy' in Bangladesh. Now that Trump won the US election and he has business with Bangladeshi garment industry will he give back GSP to Bangladesh?


B'desh to ask US to restore GSP facility as Trump wins: Muhith
Bangladesh Sangbad Sangstha . Dhaka | Published: 23:52, Nov 09,2016

Finance minister AMA Muhith Wednesday said Bangladesh would ask the United States to restore Generalised System of Preference facilities, stalled since 2013, as Donald Trump is set to be installed as the new US president.
‘We are working for getting the GSP back in the US market,’ he told journalists emerging from a meeting of the Cabinet Committee on Economic Affairs cabinet division as asked if Dhaka planned to take fresh initiatives to get the facility restored.
Muhith added: ‘We will provide the new US administration all sorts of information on labour standard, safety and working environment in the apparel factories’.
Responding to another question, he said Bangladeshi immigrants in the US were unlikely to face any kind of problem for winning Donald Trump as a president.
‘America is a country of immigrants. There were many abortive efforts to reduce immigrants. Immigrants will not face any problems this time as well,’ he said.
He also negated speculations whether US investment in Bangladesh would face any setback after the dramatic US elections and rather expressed the hope that the investment will also be expanded further.
The finance minister also congratulated Trump on his election as the 45th
US president and expected Dhaka-Washington ties to be deepened further in the coming days.
Republican candidate Donald Trump defeated Democratic Party rival Hillary Clinton to become the 45th US president for next four years.

http://www.newagebd.net/article/2473/bdesh-to-ask-us-to-restore-gsp-facility-as-trump-wins-muhith

 

[Russell]

No and I don't care...GSP ain't shit.

What I am happy about is death of TTP!

This would have given Vietnam(they're catching up as it is) a huge lift in the ready made garments sector in the US and hurt our industry.

Next we need to see is, if he actually implements any of his election rhetoric and hyperbole....if he gets into a trade war with China and chooses to bring about high tariffs on imports across the board...as a by product of that our garments industry could once again suffer.

 

[Nilgiri]

It will be denied.

No and I don't care...GSP ain't shit.

What I am happy about is death of TTP!

This would have given Vietnam(they're catching up as it is) a huge lift in the ready made garments sector in the US and hurt our industry.

Next we need to see is, if he actually implements any of his election rhetoric and hyperbole....if he gets into a trade war with China and chooses to bring about high tariffs on imports across the board...as a by product of that our garments industry could once again suffer.

He will not start a trade war right away. That was election hyperbole.

What he will do is simplify the bringing in of offshore profits with low one time tax of maybe around 10%. This is trillions of dollars that are locked up in offshore accounts.

It will be after this there may be nominal increase in tarrifs to protect what capacity is created by where this investment goes, esp which are more "mass-job" sensitive.

The rust belt of US elected him for this reason and this reason only.....many of them were life long democrats.

GSP is not a good long term solution for BD....just like H1B is not a good long term solution for India. There must be greater diversification in the economy...esp in BD....otherwise it will not get into strong middle income consumption. This requires fundamental change in its human capital development....and it is still stalling on it.

 

[Russell]

If he didn't surround himself with evil assholes who want to take the country back to the 1950s socially...he'd potentially be a very good president.

I mean on a personal level I know he doesn't give a toss about, Roe v Wade, gay marriage or a ton of other stuff...but some of these freaks...Good Lord.

On topic - I agree. We're trying to diversify - IT/Outsourcing is one potential huge growth sector...but, we got in to the game so F-ing late.

Can't put all our eggs in one basket (garments)...what's to stop a bunch of African nations taking a cut of our pie over the next 6-8 year??

 

[extra terrestrial]

No and I don't care...GSP ain't shit.

Well, GSP could come in handy for industries other than RMG and eventually, the export diversification. Garments was never granted GSP facilities, before or after the suspension, which is why our overall exports to the US hasn't really been affected. But exports from other industries are declining to the US after the suspension...

What I am happy about is death of TTP!

This would have given Vietnam(they're catching up as it is) a huge lift in the ready made garments sector in the US and hurt our industry.

That's perhaps the only big gain for Bangladesh after Trump's win...

 

[Nilgiri]

If he didn't surround himself with evil assholes who want to take the country back to the 1950s socially...he'd potentially be a very good president.

I mean on a personal level I know he doesn't give a toss about, Roe v Wade, gay marriage or a ton of other stuff...but some of these freaks...Good Lord.

The bigger issue will be how he drains the swamp. I am looking forward to it immensely, especially trey gowdy or rudy as AG.

The destruction of two-tier justice system is very welcome.

Supreme court nominations and such, I don't care about too much....this is a democracy and democracy has spoken. It will mostly be focused around preserving the 2nd amendment....and also 1st amendment (given the "PC culture" that has crept up and coiled around the US media and elite in particular....and the massive violence and intimidation that has followed it)

Who are these "evil" assholes you are talking about? Give me names!

 

[Major d1]

BD will not get GSP facility easily. bcz US bazar as well as like same in the previous time.

 

[BanglaBhoot]

 

[Zabaniyah]

Next we need to see is, if he actually implements any of his election rhetoric and hyperbole....if he gets into a trade war with China and chooses to bring about high tariffs on imports across the board...as a by product of that our garments industry could once again suffer.

He won't do anything

It will be after this there may be nominal increase in tarrifs to protect what capacity is created by where this investment goes, esp which are more "mass-job" sensitive.

hahahaha....

Right.

 

[Nilgiri]

hahahaha....

Right.

You probably haven't even looked at the tax code of the US...don't know why you are laughing.

 

[Zabaniyah]

You probably haven't even looked at the tax code of the US...don't know why you are laughing.

Your posts suggest that you know little about trade and the corporate world. I'll leave it there for you Trump apologetics.

The only thing he'll be leading is a bitterly divided America. That is for certain.

And before you

Well, GSP could come in handy for industries other than RMG and eventually, the export diversification. Garments was never granted GSP facilities, before or after the suspension, which is why our overall exports to the US hasn't really been affected. But exports from other industries are declining to the US after the suspension...

We have to lobby over there if we want those facilities. Otherwise, it would be pointless.

That's perhaps the only big gain for Bangladesh after Trump's win...

That idea was bound to fail from the beginning. Though not official, the European one was already out.

 

[Flynn Swagmire]

For GSP we have to lobby. Anything else is pointless...

 

[bluesky]

"In January this year, US Trade Representative Michael Froman said that Bangladesh needed to do more to support workers' rights and fight unfair labour practices to regain the benefit".

Above is an excerpt of a news that speaks of giving labour rights is a pre-requisite for regaining GSP facilities. Considering the destructive minds of our labour/people I do not think it would be wise to give full freedom to the labours to organize themselves in a way that the USA wants BD to do before it can restore GSP.

The unionizing of all labours will ruin many of the industrial sectors because ordinary labour will become hostage to the labour leaders. The neighbbouring country will take full advantage of the situation to ruin our industries.

 

[extra terrestrial]

I do not think it would be wise to give full freedom to the labours to organize themselves in a way that the USA wants BD to do before it can restore GSP.

It would be a disaster...

As discussed, to regain GSP we need to lobby. No matter what you implement, they are always going to find a flaw...