“In matters of business, a friend can be more dangerous than an enemy.”
Declaring this harsh truth to the entire world, U.S. President Donald Trump today announced reciprocal and base tariffs on products exported to the United States. He stated that today marks the day of America’s economic independence—a historic moment marking the beginning of a trade war to transform the U.S. into the richest nation in the world.
With Trump’s announcement, the long-standing structure of global trade has changed completely from today! In his words, I hear the reflection of my business-minded father, who used to say, “There’s no room for affection in business. Pay the money, take the goods! For friendship, come home and have a nice meal, but don’t mix it with business.” Trump’s trade policy mirrors this mindset exactly!
Who would’ve thought that Canada would have to face high tariffs to export goods to the U.S.? The big brother America and little brother Canada were once like a joint family in North America. But now, the U.S. is telling Canada to eat from a separate pot. Not just that, the U.S. is treating all other nations the same, saying:
“The days of favors are over. You give what others give me! It’s not my responsibility to feed your children anymore. I’ve fed you long enough—now it’s your turn to give me something!”
Trump has imposed tariffs ranging from at least 10% to a maximum of 79% on goods from all countries. He explained that he has imposed tariffs that are half the amount those countries had placed on American goods over the years—no favoritism, just fair and square!
Naturally, Canadians were anxious about what “crazy uncle” Trump might do, expecting high tariffs. But instead, Trump left Canada hanging in a “maybe, maybe not” situation. For now, there will be no tariffs on Canadian exports, but the U.S. will keep a strict watch on Canada—particularly on how it deals with the deadly Chinese drug Fentanyl, which is killing over 100,000 young Americans every year.
Canada breathed a sigh of relief at this temporary exemption. However, four Republican senators joined Democrats in pressuring the Senate to investigate whether Canada is truly complicit in smuggling fentanyl into the U.S. In 2024, only 20 kg of fentanyl was seized at the Canadian border, whereas 9,500 kg was seized entering through the Mexican border. After a 51–48 vote (including 45 Democrats, 3 independents, and 4 Republicans), Trump temporarily backed away from imposing a 25% tariff. Canadian Foreign Minister Mélanie Joly played a significant diplomatic role in maintaining this outcome over the past month.
However, the fear isn’t over yet. Although the 25% general tariff was avoided, Canada must pay 25% tariffs starting tonight on cars and auto parts manufactured by its motor industry, as well as on aluminum and steel. This will devastate Canada’s auto industry, and American consumers will have to pay $10,000 more per car for Canadian vehicles. Canadian Prime Minister Mark Carney responded with frustration, stating that Canada will take countermeasures and announce them in a press conference tomorrow.
As for Bangladesh, Trump imposed a 37% tariff on its garments and other exportable products because Bangladesh imposes a 74% tariff on U.S. products. This will put Bangladesh’s garment sector at a competitive disadvantage compared to India, where tariffs are only 26%. India was once one of the highest tariff-imposing countries on U.S. goods (up to 200%) but strategically reduced its tariffs to enjoy this benefit—something Bangladesh could have easily done.
Instead, the current Bangladeshi administration—led by people like Yunus and his foreign affairs team—remains more concerned about securing their illegitimate power than protecting the economy. If the garment sector suffers a $30 billion loss annually, it doesn’t bother them. Without the people’s mandate, how patriotic can such individuals really be? At the end of the day, they’ll just blame it all on the Awami League, and that will be the end of it!
