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Investing.com -- Suppliers to Walmart (NYSE:WMT) have delayed or put on hold some orders from garment manufacturers in Bangladesh as U.S. President Donald Trump’s threat of a 35% tariff on the textile hub disrupts business, according to Reuters.
Bangladesh is the third-largest exporter of apparel to the United States, relying on the garment sector for 80% of its export earnings and 10% of its GDP.
Factory owners in Bangladesh expect orders to fall if the August 1 tariffs go into effect, as they are unable to absorb the 35% rate.
Iqbal Hossain, managing director of garment manufacturer Patriot Eco Apparel Ltd, said an order for nearly 1 million swim shorts for Walmart was put on hold Thursday due to the tariff threat.
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